Moody's lifts Tuxpan view to positive

Moody's Investors Service said it affirmed the municipality of Tuxpan's issuer rating at B2 and changed the outlook to positive from stable.

Moody's also said it upgraded the municipality's Mexican national scale rating to Ba1.mx from Ba2.mx.

The agency also affirmed the debt ratings on its Ps.220 million loan with Banorte-Interacciones at Ba3/A3.mx.

The upgrades reflect the strengthening of Tuxpan's gross operating balance, which led to stronger cash financing balances and liquidity over the past two years, Moody's explained.

The ratings also consider the absence of short-term debt, which decreases liquidity concerns slightly, the agency said.

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