S&P affirms Baja California

Standard & Poor's said it affirmed its mxAA- national scale rating and stable outlook on the State of Baja California, United Mexican States.

S&P said the rating is supported by Baja California's gross state product per capita, economy, sound budgetary performance and manageable direct and guaranteed debt.

Factors constraining the rating include limited financial flexibility and a pending pension reform that could pressure the state's finances.

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