The ratings on Banco Nacional de Comercio Exterior S.N.C.'s (Bancomext) senior unsecured debt mirror Standard&Poor's Ratings Services' 'BBB+' foreign and 'A+' local currency long-term sovereign credit ratings on the United Mexican States. The Mexican government fully owns and supports Bancomext, which is one of Mexico's main instruments for promoting international trade. The bank's primary role is to facilitate the development of Mexico's external sector by providing financial support and technical assistance to exporters and importers. Backed by the full faith and credit of the Mexican government, Bancomext's debt obligations are considered part of the country's public debt. After President Felipe Calderon's administration took office in 2007, a new general manager for BANCOMEXT was appointed with the clear goal
