S&P affirms Veracruz

Standard & Poor's said it affirmed its A+(mx) national-scale rating on the State of Veracruz, United Mexican States.

The outlook remains stable.

S&P said that the rating is supported by the state's improved financial performance, with an overall surplus during the past year and outstanding debt management, albeit at increasing levels.

The agency noted that the rating is constrained by low GDP per capita levels, which amount to only 60% of the national average, limited financial flexibility, accentuated by the state's high social and infrastructure needs and the need for an integral pension reform.

© 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.