Standard & Poor's points to better outlook for Mexico

Standard & Poor's revised up its outlook for Mexico's sovereign debt on Tuesday, pointing to good prospects for deep economic reforms in Latin America's number two economy.

The upgrade in the outlook on Mexico's long-term foreign currency credit rating, to positive from stable, means the agency could upgrade Mexico from its current BBB rating within the next 18 months, the agency said in a statement.

Mexico is rated BBB by Fitch and one notch higher at Baa1 by Moody's, which both have stable outlooks on the country. Mexico has not had a ratings upgrade since 2007.

Source: Reuters