Press Release|Sovereigns
KBRA Affirms BBB/K2 Ratings for Mexico with Stable Outlook
3 May 2024 | New York
KBRA affirms Mexico’s long-term issuer ratings of BBB. KBRA also affirms the short-term issuer ratings of K2. The Outlook on the long-term ratings is Stable.
| This credit rating is an unsolicited credit rating | |
|---|---|
| With Rated Entity or Related Third-Party Participation | Yes |
| With Access to Internal Documents | No |
| With Access to Management | Yes |
Mexico’s Stable Outlook rests on expectations for return to fiscal restraint post-election. Petróleos Mexicanos’ (Pemex) finances along with high interest rates and sticky inflation continue to be challenges. The Stable Outlook also considers the promise of U.S. nearshoring and onshoring opportunities and the positive impact to be realized on investment, employment, fiscal revenues and GDP growth, and also the uncertainties that persist.
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