S&P keeps Grupo Mexico on watch

Standard & Poor's said the BBB- long-term corporate credit rating on Grupo Mexico SAB de CV remain on CreditWatch with negative implications, where they were placed April 7.

The agency said that on Aug. 31, a U.S. Bankruptcy Court recommended the confirmation of subsidiary AMC's plan of reorganization to the District Court that will make the confirmation decision in Asarco's bankruptcy case.

The watch considers several uncertainties regarding the process, S&P noted.

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