S&P revises Mexico long-term ratings view to negative

S&P said it revised its outlook on the long-term ratings on Mexico to negative from stable and affirmed the BBB+/A-2 foreign currency and A-/A-2 local currency sovereign credit ratings.

“The negative outlook reflects our view that potentially higher contingent liabilities and lower GDP growth prospects could weaken the sovereign's financial profile, which could lead to a downgrade,” S&P said in a news release.

S&P also affirmed the A+ transfer and convertibility (T&C) assessment.

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