S&P has raised Mexico’s credit rating to BBB+ from BBB, it says, following the passage of energy reform legislation. “The passage of a landmark energy reform, supported by some changes in the fiscal framework, bolsters Mexico's growth prospects and fiscal flexibility in the medium term,” the agency says. The opening of the country’s oil and electricity sectors has the ability to attract “significant” investment. The lead time needed to realize increased investment in Mexico's oil sector does not suggest any immediate boost to investment, S&P notes, except for that associated with improved investor sentiment. It expects 3.0% GDP growth in 2014, up from 1.2% in 2013, and 3.5% in 2015. The outlook is stable. Mexico is now rated BBB+/BBB+/Baa1.