S&P Lowers Mexico

S&P Lowers Mexico

Mexico

S&P has lowered Mexico’s debt rating to BBB from BBB+, with a stable outlook, becoming the second agency to cut the sovereign within the past month. “The downgrade reflects our assessment that Mexico's recent steps to raise non-oil revenues and improve efficiencies in the economy will likely be insufficient to compensate for the weakening of its fiscal profile,” says the agency, which sees modest GDP growth prospects and diminished oil production revenues. The country’s inability to widen th

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