Standard & Poor’s Lowers Mexico’s Outlook to Negative

08/23/2016 The Wall Street Journal

mexico cityMEXICO CITY—Standard & Poor’s on Tuesday lowered the outlook on Mexico’s sovereign debt rating to negative from stable, becoming the second ratings firm to do so this year on the belief that government finances could deteriorate in the coming years.

S&P affirmed Mexico’s triple-B-plus rating—two notches above the minimum investment grade—but said there was a 1-in-3 chance of a downgrade in the next 24 months. A deterioration of Mexico’s debt or interest burden could raise the vulnerability of public finances to adverse shocks, the firm said in a release.

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