Moody's rates Cengas Baa2

Moody's Investors Service said it assigned a Baa2 global scale rating and Aa2.mx Mexico national scale rating to Centro Nacional de Control del Gas Natural (Cengas).

The outlook is stable.

The company is wholly owned by the government of Mexico, Moody's said.

The ratings reflect the agency's criteria for rating government-related issuers, which takes into account the company's baseline credit assessment of Ba1 and the ratings on Mexico, the agency said.

The company has a strategic position as the main natural gas transport supplier in the country and the regulated market under which it operates, Moody's said.

The ratings are tempered by the company's limited track record and uncertainty about the energy policies of Mexico's new government, the agency said.

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