Moody's rates Naucalpan Ba1

Moody's Investors Service said it assigned a first-time global scale local-currency issuer rating of Ba1 to the Municipality of Naucalpan, and Moody's de Mexico assigned a first-time Mexico national scale issuer rating of A1.mx to the municipality.

The outlook is stable.

The agency said the ratings reflect positive gross operating balances thanks to a strong economy and tax collection systems, which support a high level of own-source revenues, and an adequate consolidated financial performance.

This adequate fiscal performance is offset by a negative, albeit improving, liquidity position, moderate debt levels and risks related to the poor financial performance of the municipal water company, Moody's said.

© 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.