HomeEconomyFitch affirms Mexico's rating at 'BBB-', notes 'prudent' policies, slow growth Economy Fitch affirms Mexico's rating at 'BBB-', notes 'prudent' policies, slow growth By farahat November 18, 2022 0 128 views Share FacebookTwitterPinterestWhatsApp SPGI -1.% Add/Remove from Watchlist Add to watch list ADD JOB Location successfully added to: Please name your portfolio type: purchase Sell date: quantity: price Point value: Leverage: 1:11: 1: 1: 1: 1: 1: 1: 26 1: 00 Committee: 8946 Create New Watchlist Create 8119 8119 Create a new holding portfolio Add Create 2022 + add another position to close 2022 Movement Control Order 5000.% 100 Add/Remove from Watchlist Join the watch list Add location Location Successfully added to: Please name your portfolio type: purchase Sell date: quantity: price Integral value: Leverage Function: 1:1 1: 1: 1: 1: 1: 10 By Anthony Esposito CITY, MEXICO (Reuters) – Fitch Ratings on Friday confirmed defaults by long-dated local and foreign currency issuers in Mexico The rating (IDR) is ‘BBB-‘ with a stable outlook. “Mexico’s rating is supported by a prudent macroeconomic policy framework, stable and robust external financing, and government debt/GDP expected to stabilize below ‘BBB’ ‘Median levels of support,’ the rating agency said in a statement. Fitch added that Mexico’s ratings were constrained by weak governance indicators, long-term Weak growth, potential micro-policy interventions affecting investment prospects, and possible contingent risks stem from the capacity of state-owned oil company Petroleos Mexicanos (Pemex). It also said it expected President Andrés Manuel López Obrador’s government to remain committed to providing for Pemex Provide financial support as its first task is to strengthen the role of state-owned enterprises in the energy sector. Rating agencies seem to have little consistency in rating Mexico Lopez Obrador, a left-wing populist Democrat, prides himself on being a fiscal conservative. S&P Global (NYSE: 500 SPGI ) Rated at In July, it upgraded Mexico’s long-term outlook from negative to stable and affirmed its BBB long-term foreign currency rating and BBB-+ long-term local currency rating. In the same month, Moody’s (NYSE: 500 Movement Control Order ) Investors Service downgraded Mexico’s credit rating by one notch to “Baa2”, predicting weak investment. In a statement on Friday, Fitch forecast Latin America’s second-largest economy’s real GDP to be at increased by 2.5% and 1.4% . Fitch also said it expects Banxico to continue raising its key interest rate, which is expected to reach .% when finished-10. In response to the rating, Mexico’s finance ministry said in a statement that it “confirmed(ed)” Mexico’s “commitment to sound public financial management, allowing continued favorable access to international and national markets.” 75 Share FacebookTwitterPinterestWhatsApp Previous article'White Lotus' star Michael Imperioli on joining season 2: 'It's like you're watching a new show, but it's already a hit'Next articleSonic Frontiers farahat RELATED ARTICLES Economy Do not let Putin win, Biden pleads with Republicans on Ukraine December 6, 2023 Economy Fed to hold rates until at least July; first cut not start of stimulus wave: Reuters poll December 6, 2023 Economy Philippines central bank may pause or hike rates at next meeting -governor December 6, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS The Fashion Figures We Lost in 2022 December 6, 2023 Julia Roberts Looks Elegant in Leggings and Loafers in New York December 6, 2023 Tiffany Vanderhoop’s Statement Earrings Are Embedded With Meaning December 6, 2023 Is Bitcoin Overvalued Yet? What Historical Data Suggests December 6, 2023 Load more Featured NEWS Getting ready for the next wave of mergers and acquisitions September 29, 2022 How many clothes do we really need? December 8, 2022 So what do Sugar Daddies Expect? February 27, 2023 SUI Price Plummets By 38% In 7 Days – Will It Recover Anytime Soon? June 10, 2023 Load more
