Moody's lifts Campeche view to stable

Moody's Investors Service said it affirmed the B2 baseline credit assessment and the issuer ratings of the municipality of Campeche at B2/Ba2.mx.

The agency also said it revised the municipality's outlook to stable from negative.

The change of outlook reflects the municipality's improvement in both the cash financing and operating balance, Moody's explained.

In 2018, Campeche's cash financing and operating balances raised to 11.2% of total revenues and 3.7% of its operating revenues, figures that contrast with negative performance registered in the period of 2014 to 2017, the agency said.

Moody's said it expects Campeche's financial and operating balances will maintain a similar trend in the following 12- to 18-months.

Offsetting some of these pressures are Campeche's low debt levels and strong own source revenue collection, the agency noted.

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