Moody’s cuts Grupo Aeroportuario del Pacifico

Moody’s Investors Service said it downgraded to Baa1 from A3 (global scale) the issuer and debt ratings of Grupo Aeroportuario del Pacifico, SAB de CV (GAP).

At the same time, Moody´s affirmed GAP’s issuer and debt ratings of Aaa.mx (Mexico national scale). and MX-1 (Mexico national scale) assigned to GAP’s certificados bursatiles program with a five-year tenor.

Moody’s changed the outlook to negative.

The downgrade follows the downgrade of the sovereign bond rating of Mexico to Baa1 from A3 with a negative outlook, Moody’s said.

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