DBRS turns Mexico trend to stable

DBRS said it confirmed Mexico’s long-term foreign- and local-currency issuer ratings at BBB and changed the trend to stable from negative.

“The change in trend to stable from negative reflects DBRS Morningstar’s expectation that the Mexican economy will recover in 2021 and 2022 following a powerful shock in 2020, and that the government’s commitment to sustainable public finances will continue to support macroeconomic stability. Relative to our last review in May 2020, we now view the risks to Mexico’s sovereign credit profile as more balanced,” the agency said in a press release.

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