Mexico, May 19, 2014 -- Moody's de México has today upgraded Banco Mercantil del Norte, S.A.'s (Banorte) long- and short-term global local currency deposit ratings to A2/Prime-1, from A3/Prime-2. At the same time, Moody's raised Banorte's standalone baseline credit assessment (BCA) to baa1, from baa2. Moody's also upgraded the bank's global local currency subordinated and junior subordinated debt ratings to Baa2 and Baa3, from Baa3 and Ba1, respectively. The outlook on all these ratings is stable. These actions conclude the review for upgrade initiated on 12 February 2014.

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