Moody's assigns Baa1 to Nayarit loan

Moody's Investors Service assigned debt ratings of Baa1 (global scale, local currency) and Aa1.mx (Mexico national scale) to the state of Nayarit's Ps. 247 million enhanced loan granted by Santander.

The loan has a maturity of 20 years and pays an interest rate composed of the 28-day Mexican Interbank Interest Rate plus a spread. The proceeds are being used to constitute reserve funds for the loan, to cover costs related to the contracting of the loan and to finance infrastructure spending.

The enhanced loan was executed by a master irrevocable public contracting and administrative trust without structure and will be paid through an individual paying trust to which the state pledged the rights and flows of 2.13% of its general participations fund revenues.

© 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.