Moody's rates Quintana Roo loans Aa2.mx, Baa3

Moody's Investors Service said it assigned provisional ratings of prospective Aa2.mx (Mexico national scale) and prospective Baa3 (global scale, local currency) to the bank loans soon to be contracted by the State of Quintana Roo for $500 million pesos and $763 million pesos, respectively.

The loans, in a total amount not to exceed $1.263 million pesos, are to be used to refinance the state's direct debt.

Moody's said the loan ratings incorporate both the state's own credit position as well as the enhancement provided by the trust structure and related legal documents.

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