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S&P ups Comision Federal de Electricidad to BBB
Standard & Poor's said it raised its foreign currency rating on Comision Federal de Electricidad to BBB from BBB-. The outlook is stable.
In addition, S&P affirmed the company's BBB+ local currency credit rating, and its mxAAA national scale corporate credit rating.
S&P said the rating actions followed the upgrade of the foreign currency sovereign ratings on the United Mexican States to BBB from BBB-.
The rating action is consistent with S&P's continued opinion that Comision Federal's importance to the United Mexican states constitutes a strong economic incentive for the sovereign to support the issuer during a period of financial distress.
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