S&P acts on Mexican companies

S&P said it took multiple rating actions on Mexican corporations following the downgrade of the sovereign to BBB with a negative outlook on global scale. “The ratings on most of these corporations are directly influenced by the ratings on Mexico, because either the former ratings are capped at the same level, or they are up to a maximum number of notches relative to the sovereign ratings,” S&P said in a press release.

The agency lowered the global scale ratings by one notch keeping the negative outlook and affirmed its mxAAA national scale ratings and outlook on the following entities: America Movil, SAB de CV and subsidiaries to BBB+, Coca-Cola Femsa, SAB de CV to BBB+, Kimberly-Clark de Mexico SA de CV to BBB+ and

El Puerto de Liverpool, SAB de CV to BBB.

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