Fitch lowers views on five Mexico governments

Fitch Ratings said it affirmed the BBB+ long-term local-currency issuer default ratings for five local governments in Mexico.

Fitch also said it revised the outlooks on the governments to negative from stable.

The issuers include estado de Guanajuato, estado de Aguascalientes, municipio de Corregidora, municipio de Chihuahua and municipio de San Pedro Garza Garcia.

The outlook revisions follow a similar outlook revision on the Mexican sovereign, Fitch explained.

The ratings are capped by the sovereign rating, the agency said.

The negative outlook reflects the deteriorating balance of risks confronting the sovereign credit profile and the scope of policy uncertainty and deterioration under the incoming administration, Fitch said.

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