Moody’s assigns Benito Juarez loans Baa3, Ba1

Moody’s Investors Service said it assigned Baa3/Aa3.mx (global scale, local currency/Mexico national scale) ratings to the municipality of Benito Juarez’s 15-year enhanced loan from Banco Azteca for Ps. 500 million. The loan has a pledge of 31.73% of the municipality’s general participation fund revenues.

The agency also assigned Ba1/A1.mx ratings to a 15-year enhanced loan from BBVA Bancomer for Ps. 500 million loan. The loan has a pledge of 31.73% of the municipality’s general participation fund revenues.

The ratings reflect the underlying creditworthiness of the municipality of Benito Juarez, supported by the following legal and credit enhancements embedded in the loans, Moody’s said.

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