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Despite reforms, Moody's maintains Mexico's grade

Thursday, August 15, 2013

Moody's will leave Mexico's BAA1 rating unchanged, despite the country announcing reforms.

The ratings agency backed its decision based on the fact that it lacks sufficient proof that the reforms will be approved and if they will contribute to developing the country's economy.

Moody's general director for Mexico, Alberto Jones Tamayo, said that before making a decision, the agency has to evaluate the effect the reforms could have on the government's credit risk.

Source (in Spanish): Notimex