S&P lifts Aguascalientes

Standard & Poor’s said it raised the long-term national scale issuer credit rating on the Mexican state of Aguascalientes to mxAA+ from mxAA.

The outlook is stable.

The upgrade reflects Aguascalientes’ strong budgetary performance during the last five years, S&P said, as well as an expectation that the Mexican state will continue to post overall balanced results after capital expenditures during 2015 and 2016.

The upgrades also consider the growing strength of the state’s fiscal and management policies, the agency said, and its economic dynamism, which could yield higher modifiable revenues.

The ratings also incorporate the state’s low debt with no significant increases expected over the next two years, along with its strong liquidity position and low contingent liabilities, Fitch added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.