Adequate business stability; Adequate risk position and asset quality metrics; and Bancomext has a guarantee from the federal government for all its financial obligations. This guarantee provides more flexibility to regularly obtain financial resources. Recent aggressive growth could pressure capitalization and asset quality metrics; and Limited business penetration due to government dependency Our stable outlook on Banco Nacional de Comercio Exterior S.N.C. (Bancomext) reflects the outlook on Mexico and our view that there is an "almost certain" likelihood of extraordinary support from the government. We expect Bancomext to maintain its "critical" role and "integral" link to the government by continuing to develop and implement public policies to support foreign trade in Mexico. As a result, the ratings on the bank
