Fitch lowers Mexico's credit rating to BBB- on recession outlook

Fitch lowers Mexico's credit rating to BBB- on recession outlook

Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Fixed Income Mexico Latin America Central America Coronavirus

Fitch Ratings late on Wednesday cut Mexico's long-term sovereign foreign currency credit rating one notch to BBB-, just a step above junk status, saying the coronavirus pandemic will likely spur a severe recession that an already fraught business environment will be unable to recover from quickly. "A recovery starting in 2H20 will likely be held back by the same factors that have hampered recent economic performance, which has lagged rating and income level peers," Fitch said in a statement. The

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