Moody’s rates Veracruz loans

Moody’s Investors Service said it assigned debt ratings of Baa3 (global scale, local currency) and Aa3.mx (Mexico national scale) to the following four enhanced loans of the state of Veracruz:

Ps. 10 billion from Banobras (original face value) with a maturity of 20 years and a pledge of 13.15% of the state’s general fund of Participaciones revenues, which will be used to refinance a portion of the state’s long-term debt.

Ps. 7.5 billion from Banobras (original face value) with a maturity of 20 years and a pledge of 9.86% of the state’s general fund of Participaciones revenues, which will be used to refinance a portion of the state’s long-term debt.

Ps. 1 billion from BBVA Bancomer (original face value) with a maturity of 20 years and a pledge of 1.31% of the state’s general fund of Participaciones revenues, which will be used to refinance a portion of the state’s long-term debt.

Ps. 1 billion from BBVA Bancomer (original face value) with a maturity of 20 years and a pledge of 1.31% of the state’s general fund of Participaciones revenues, which will be used to refinance a portion of the state’s long-term debt.

The enhanced loans are payable through master trust number F/851-01936 with Banco Regional SA as trustee, to which the state has pledged the flows and rights of a portion of its general fund of Participaciones revenues.

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