Fitch lowers CFE view to negative

Fitch Ratings said it has affirmed Comision Federal de Electricidad's (CFE) long-term foreign-currency issuer default rating and local-currency issuer default rating at BBB+ and revised the outlook to negative from stable.

Fitch also said it affirmed the foreign-currency issuer default rating at A with a stable outlook for Arca Continental SAB de CV, AC Bebidas S de RL de CV, Fomento Economico Mexicano SAB de CV (Femsa) and Kimberly Clark de Mexico SAB de CV.

The outlook revision on Mexico's sovereign ratings reflect the deteriorating balance of risks confronting Mexico's credit profile associated with scope for policy uncertainty and deterioration under the incoming administration, Fitch said.

The negative outlook also considers the growing risks for contingent liabilities for the sovereign from Pemex against a background of persistent economic under-performance relative to peers, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.