Fitch may upgrade four local governments in Mexico

Fitch Ratings said it placed the BBB long-term local-currency issuer default ratings of the municipalities of Puebla, Pue. and Zapopan, Jal. on Rating Watch Positive.

The positive watch follows the recent publication of Fitch's revised global master criteria for international local and regional governments, Fitch said.

The ratings may be upgraded by changes from the new criteria framework, notably the assessment and publication of a risk profile, introduction of issuer-specific forward-looking scenario analysis, introduction of a rating positioning table with quantitative metrics and the identification of extraordinary support factors and publication of their rating impact, Fitch said.

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