S&P Confirms Mexico Credit Rating, Keeps Negative Outlook

Latin America’s second-biggest economy is expected to shrink by around 9% in 2020, and it entered the pandemic already in a mild recession, partly dragged down by concern among investors about some of Lopez Obrador’s policy decisions.

RIO DE JANEIRO, BRAZIL - S&P Global Ratings confirmed Mexico’s investment grade credit rating on Wednesday, December 2nd, saying that despite a record hit to the economy from the coronavirus pandemic, the government’s cautious policy response had kept public debt under control.

In a statement, S&P affirmed Mexico’s ‘BBB’ long-term foreign currency and ‘BBB+’ long-term local currency sovereign credit ratings, news that is likely to be welcomed by the government of President Andres Manuel Lopez Obrador.

Still, S&P kept Mexico’s outlook on negative, arguing that a likely soft economic . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?