Mexico’s Short-Term Rating Raised One Level to A-2 at S&P

Mexico had its short-term foreign currency rating raised one notch to A-2 from A-3 at Standard & Poor’s as the company cited a change in critera.

S&P affirmed Mexico’s BBB long-term rating, the second- lowest investment grade mark. The outlook is stable, the ratings company said today in a statement.

The move “results from the revision of Standard & Poor’s criteria on the linkage between long-term and short-term ratings for sovereigns,” the company said in the statement. “The change in the short-term foreign currency rating on Mexico does not reflect an improvement in the sovereign’s short-term creditworthiness.”

S&P said Mexico’s net debt is likely to hold at about 35 percent of gross domestic product, while economic growth will average 3.3 percent in the “following several years,” the statement said.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.