Fitch rates Mexico bond BBB-

Fitch Ratings said it assigned a long-term foreign currency rating of BBB- to the Republic of Mexico's $1.5 billion global bond issue maturing in 2034, issued Wednesday. The outlook is stable.

Fitch said Mexico's ratings are supported by the reduction in its external debt burden, the country's prudent policy framework and liability management, and the continued integration of the country with the United States.

The ratings remain constrained, the agency said, by the structural weaknesses in public finances, slow progress on structural reforms, and weak social indicators.

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