The Mexican government faces a one-in-three chance of having its credit rating d...
MEXICO CITY - The Mexican government faces a one-in-three chance of having its credit rating downgraded over the coming year, as public finances struggle with mounting liabilities and slowing growth, rating agency Standard & Poor’s said on Friday.
In a statement, S&P emphasized that Lopez Obrador’s plans to reduce the private sector’s role in the Mexican energy sector while boosting spending on cash-strapped national oil company Pemex raised concerns for government finances. The peso currency, which has reacted negatively to recent downgrades, ceased trading for the weekend before S&P published their latest guidance on Mexico.
The production slide has weighed on the government’s fiscal health as it implicitly guarantees Pemex finances.
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