S&P affirms Chiapas

Standard & Poor's said it affirmed its A-(mx) national-scale rating on the State of Chiapas, United Mexican States.

The outlook remains stable.

S&P said that the rating is supported by the state's sound budgetary performance, substantial improvement in the collection of modifiable revenues and growing level of capital expenditure.

The agency added that, however, the state has limited financial flexibility, as demonstrated by the state's high social and investment needs.

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