Moody's: Zacatecas loan Ba2

Moody's de Mexico said it assigned ratings of A2.mx on the Mexican national scale and Ba2 on the global scale, local currency to an enhanced loan of the State of Zacatecas.

The loan, in the amount of Ps. 1,148,000,000 billion, was provided by Banobras.

The loan has an 18 year maturity with a grace period of 24 months and interest coupon composed of the 28-day Mexican interbank reference rate plus 153 basis points.

The loan is paid through a single trust to which Zacatecas has pledged a total of 15% of general participation fund revenues via an irrevocable instruction to the Mexican Federal Treasury, Moody's said.

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