July 9, 2019 |
In the absence of any significant surprises, it’s unlikely that Fitch will further lower its bond rating for Mexico, according to Charles Seville, senior director of sovereigns at the ratings agency.
In June, Fitch cut its sovereign rating to BBB or near junk status. Risks associated with Mexico’s economic slowdown and uncertainty surrounding state-owned oil giant Pemex’s rescue plan were factored in when the rating was cut, Seville said.
“We lowered the rate but kept a stable outlook. Some o
Economic slowdown and uncertainty about Pemex rescue factored into last reduction