Interacciones Signs Loan For Veracruz

Interacciones Signs Loan For Veracruz

Economy & Policy

Mexico’s Interacciones has given the State of Veracruz an MXP3bn 15-year enhanced loan, with a 2-year grace period. The loan will pay a spread of 340bp over TIIE, and is payable through a trust, to which the state has pledged the rights and flows of 7.5% of its participation revenues. Moody’s has assigned the loan a Ba1/, which reflects the underlying creditworthiness of the State of Veracruz, rated Ba3/ and because of the legal and credit enhancements embedded in the loan. These inclu

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