S&P lowers Mexico companies views to negative

S&P said it revised the outlooks to negative from stable on Comision Federal de Electricidad (CFE), Red de Carreteras de Occidente, SAB de CV and Concesionaria Mexiquense SA de CV (Conmex).

The agency also said it affirmed the global scale ratings on these entities and their issuances.

S&P also said it is keeping the BBB+ debt rating on Mexico City Airport Trust on CreditWatch with negative implications because the agency is waiting for various measures related to the cancellation of the new Mexico City airport project to take effect.

The agency also affirmed the BBB+ ratings on Mexico Generadora de Energia, S de RL and maintained its stable outlook.

The rating actions follow the recent outlook revision to negative on Mexico.

The negative outlook reflects a recent shift in government policy to reduce private-sector involvement in the energy sector, along with other developments that have led to a decline in investor confidence, S&P said.

This could contribute to higher contingent liabilities for the sovereign and lower its GDP growth prospects, the agency said.

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