Moody's upgrades Mexico to A3

Moody's Investors Service said it upgraded Mexico's government bond ratings to A3 from Baa1.

The outlook is stable.

The decision to upgrade Mexico's sovereign ratings was driven by the structural reforms approved last year, which Moody's expects will strengthen the country's potential growth prospects and fiscal fundamentals.

As the full impact of the reforms becomes more evident over time, Moody's said it expects that Mexico's credit metrics will report firm - but gradual - improvements, thereby further reinforcing the country's already robust sovereign credit profile.

© 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.