Moody's shifts Yucatan view to negative

Moody's Investors Service said it affirmed the state of Yucatan’s Ba1/A1.mx (global scale, local currency/Mexico national scale) issuer ratings and changed the outlook to negative from stable. Moody's also affirmed the debt rating of the Ps. 2.62 billion enhanced 20-year loan issued by the state at Baa1/Aaa.mx.

“The change in the outlook to negative from stable reflects Moody's assessment of the risk that Yucatan will register a more prolonged period of weakened fiscal health due to the pandemic, even as other peers begin to recover, due to the acute level of fiscal deterioration Yucatan experienced in 2020,” the agency said in a press release.

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