Moody's ups Quintana Roo to A1.mx

Moody's Investors Service said it raised the Mexico national scale issuer rating of the State of Quintana Roo to A1.mx from A2.mx.

The state's global scale, local currency issuer rating remains unchanged at Ba1, and the outlook is stable.

Moody's said the rating change acknowledges the state's improved budgetary performance and operating surpluses large enough to cover a major part of the state's capital investments.

Also, Moody's said changes in debt structure now make debt service more manageable, even though Quintana Roo's ratio of debt to revenues remains high.

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