Moody's confirms Nicolás Romero loan

Moody's de México said it confirmed the A2.mx Mexican national-scale debt rating assigned to the Municipality of Nicolás Romero's Ps. 68 million loan from Banco Interacciones.

Moody's Investors Service said it confirmed the Ba2 (global-scale, local currency) debt rating assigned to the aforementioned loan, adding that these actions conclude the review for a possible downgrade that was initiated on Nov. 9.

According to the agency, issuer ratings of Baa2.mx and B1 for the Municipality of Nicolás Romero are not affected. The outlook on the issuer ratings is stable.

The ratings confirmation reflects the removal of an early amortization clause from the loan contract, which had stated that if the municipality was registered in the national credit bureau, the bank could trigger the early amortization of the loan, the agency said.

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