The risk rating agency S&P confirmed Mexico’s sovereign notes in foreign currency and local currency, and also maintained its stable outlook.
The agency retained its long-term foreign currency rating of ‘BBB’, and its long-term local currency rating of ‘BBB+’, it announced in a press release.
He based his decision on the fact that Claudia Sheinbaum’s government has committed to reducing the fiscal deficit and stabilizing public finances and the level of debt.
In addition, he anticipated that possible disputes between Mexico and the United States over trade, migration and other issues will likely be managed in a pragmatic way that sustains economic stability.
By maintaining the stable outlook, the firm removes the possibility of a quick downgrade of Mexico’s rating.
He argued that that outlook reflects his expectation that cautious macroeconomic management, including prudent monetary policy and a return to low fiscal deficits, will stabilize Mexico’s public finances and debt level over the next two years.
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