Moody’s turns Veracruz view to positive

Moody’s said it changed the state of Veracruz’s outlook to positive from stable and affirmed its B1/Baa2.mx global- and Mexican-scale ratings. The agency also affirmed the Baa3/Aa3.mx ratings on the state’s eight enhanced loans.

“The change in outlook to positive and the affirmation of the ratings reflects sustained improvements in Veracruz's liquidity, solid gross operating surpluses which were maintained even amid pressure related to the pandemic and continued progress reducing the state's accumulated arrears and off-balance sheet contingencies. Veracruz's financial metrics have been on a steadily improving trend in recent years and compare favorably against national peers,” Moody’s said in a press release.

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