Moody's gives Servicios de Agua y Drenaje Aa3.mx

Moody's Investors Service said it assigned issuer ratings of Aa3.mx and Baa3 (global scale, local currency) to Servicios de Agua y Drenaje de Monterrey.

Moody's said that the ratings take into account a customer base that is the largest in the country other than that of the Distrito Federal, supported by a service area that is economically solid and expanding.

The ratings also consider Servicios de Agua y Drenaje's satisfactory financial operations, which are supported by a growing customer base but are now challenged by an absence of rate increases in recent years, the agency noted.

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