S&P affirms Nuevo Leon

Standard & Poor's said it affirmed its mxA- national scale rating and stable outlook on the State of Nuevo Leon, United Mexican States, based upon the full faith and credit of the state.

S&P said the rating reflects the following credit strengths: A sound economic base with gross state product per capita well above the Mexican national average that allows for growth in local revenue; a solid budgetary performance; and a professional management team.

Factors offsetting these credit strengths include: the limited flexibility afforded to the state under the Sistema Nacional de Coordinacion Fiscal (SNCF; National System for Fiscal Coordination); relatively high debt levels; and the state's ongoing support of some of its decentralized entities.

© 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.