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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 . . .

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