S&P rates Mexico bond BBB+

Standard & Poor's said it assigned a BBB+ long-term foreign-currency rating to the United Mexican States' (BBB+/stable/A-2 foreign-currency, A+/stable/A-1 local-currency) global bond due Jan. 11, 2040.

S&P also assigned an A+ long-term local-currency rating to a 3½% inflation-indexed bond program due Dec. 14, 2017. S&P assigned an A+ long-term local-currency rating to 7¾% fixed-rate bond program.

Ratings are supported by growing macroeconomic stability, an improving debt profile and greater external liquidity, S&P credit analyst Joydeep Mukherji said in a written statement.

"Low inflation, a flexible exchange rate and deepening financial markets give Mexico ample ability to adjust to negative shocks," Mukherji said.

Ratings are constrained by a lack of political consensus on policies to boost growth prospects, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.