Moody's rates Servicios loan Aa3.mx

Moody's Investors Service said it assigned global scale ratings of Aa3.mx and local-currency ratings of Baa3 to the Ps. $1.6 billion loan obtained by Servicios de Agua y Drenaje de Monterrey from Banorte in April to refinance debt.

The refinancing results in a longer amortization period and a lower interest rate than the former loans, according to the agency.

The ratings consider a large customer base and satisfactory financial operations, Moody' said.

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