By Reuters Staff
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April 29 (Reuters) - Ratings agency Moody’s Investors Service on Thursday affirmed Mexico’s long-term foreign-currency and local-currency issuer ratings at “Baa1” and maintained its outlook as “negative.”
Mexico s deterioration in the fiscal accounts has been contained and its economic contraction is likely to be reversed, Moody s said bit.ly/3t2o9aQ in a note.
Reporting by Kanishka Singh in Bengaluru; Editing by Leslie Adler
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By Reuters Staff
(Adds comment from analyst in paragraph 3)
April 29 (Reuters) - Ratings agency Moody’s Investors Service on Thursday confirmed Mexico’s credit rating, saying the country had contained a deterioration in its finances, and forecast a gradual recovery from the economic shock of the coronavirus pandemic.
Moody’s kept Mexico’s long-term foreign currency and local currency issuer ratings at “Baa1” but also maintained a “negative” outlook citing concerns about growth and investment, plus support for state oil firm Petroleos Mexicanos (Pemex).
Moody’s analyst Ariane Ortiz-Bollin later told Mexican radio show Formula Financiera that for now, it was hard to see conditions that would allow Mexico to improve its rating.