Mexico’s Outlook Cut to Negative
World Economy

Mexico’s Outlook Cut to Negative

Moody’s cut its outlook for Mexico’s credit rating on Thursday to negative from stable due to the country’s low economic growth, dicey external environment, and a chance the government may pour more funds into propping up state-owned oil firm Pemex, Reuters reported. The credit rating agency maintained Mexico’s sovereign rating at A3, but said Latin America’s second-largest economy faces challenges in trying to consolidate its finances and stabilize debt levels. A senior finance ministry official said Mexico disagreed with the move. In a news conference, Moody’s said it would wait a year or two before deciding whether to lower Mexico’s sovereign rating. Moody’s still rates Mexico higher than rival ratings agencies, S&P and Fitch. Moody’s said that new government obligations “in the form of possible government support to Pemex, given liquidity pressures at the state-owned oil producer, could further undermine the fiscal consolidation process.” Moody’s also downgraded its rating for Pemex on Thursday to Baa3, from Baa1.


Short URL : http://goo.gl/FLZR1a
  1. http://goo.gl/9BnSzg
  • http://goo.gl/GkwqKX
  • http://goo.gl/QnvE9d
  • http://goo.gl/nT7o1w
  • http://goo.gl/JV07vy

You can also read ...

More and more people in Europe are now able to find a job.
The European Commission published its yearly report on Labor...
European Equities Hit Pause Button
Europe’s major stock markets paused on Tuesday as investors...
Goldman Offers Buyback, Dividend Details
Goldman Sachs Group Inc offered investors a window into its...
Kenya’s debt is currently at $38.7b.
Kenya’s rising debt is set to hit 60% of gross domestic...
US Industrial Output Picks Up
US industrial output rose in September as the effects of...
Economic recovery will be key to bringing down the jobless rate of 21%.
Greece’s economy fell into recession again last year,...
Algeria Worst Country in Economic Freedom
Algeria is one of the worst countries in the world for...
In Southeast Asia, the Philippines is seen leading with GDP growth at 6.6% this year and 6.7% in 2018.
The IMF’s latest “Regional Economic Outlook” report paints a...