Moody's lowers Benito Juarez

Moody's de Mexico said it downgraded the Municipality of Benito Juarez's issuer ratings to B2 and Ba1.mx from B1 and Baa2.mx, respectively.

The ratings are maintained under review for a possible downgrade.

Moody's said the action was prompted by the downgrade of the issuer ratings of the State of Quintana Roo to B1/Baa2.mx from Ba2/A2.mx and the ongoing deterioration in the municipality's fiscal and debt metrics.

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