Moody's rates Tabasco loans Aaa.mx

Moody's Investors Service said it assigned Aaa.mx Mexico national scale ratings and Baa1 global scale and local-currency ratings to the Ps. 1 billion and Ps. 3 billion loans provided by Grupo Financiero Banorte to the state of Tabasco.

Ratings consider the state's own credit position as well as the enhancement provided by the trust structure and related legal documents.

Ratings are based on the state of Tabasco's Aa3.mx national scale rating and Baa3 global scale and local-currency rating, which reflects the state's modest debt ratios, its developing economy and finances that have benefited from federal transfers, the agency said.

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