Moody’s cuts Tunel de Acapulco notes to Ba3

Moody's Investors Service said it downgraded the certificados bursatiles TUCACCB 08 issued by Tunel de Acapulco Banco Invex F/749 to Ba3 from Ba1 (global scale, local currency) and Baa1.mx from A1.mx (Mexico national scale).

“The rating action was triggered by the unprecedented traffic declines resulting from the restrictive measures and travel bans imposed to contain the coronavirus (Covid-19) outbreak,” Moody’s said in a press release.

The outlook remains negative.

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