Fitch rates Mexico sustainable bond BBB-

Fitch Ratings said it assigned a BBB- rating to Mexico's $2.94 billion of notes maturing in May 4, 2053. The notes have a 6.338% coupon.

The rating is in line with Mexico's long-term foreign-currency issuer default rating, the agency said.

An amount equivalent to the net proceeds will be used for eligible expenditures under the SDG sustainable bond framework included in Mexico's 2023 federal budget, and liability management operations.

The outlook is stable.

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