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Standard & Poor's upgrades Mexico's debt rating

Friday, December 20, 2013

Standard & Poor's upgraded Mexico's debt rating to BBB plus, on growing confidence in this month's move to open the country's energy sector.

"We are closer today than we have ever been to an 'A' category," Alejandro Diaz de Leon, head of Mexico's debt office said.

But lawmakers still need to flesh out the energy overhaul with legislation that will determine whether Mexico will offer tax rates that are lucrative enough to spur an investment boom.

Source: Reuters