Moody's upgrades Mexico

Moody's Investors Service said it upgraded the issuer rating of the State of Mexico to A2.mx Mexico national scale from A3.mx and the issuer rating of the State of Mexico to Ba2 (global scale, local currency) from Ba3.

The outlook is stable.

The action reflects long-term improvements in Mexico's financial and debt metrics, in conjunction with the resilience of the state's fiscal framework during the recent economic slowdown, according to the agency.

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