Moody's Downgrades Mexico to Baa3, Citing Weaker Fiscal Position
Moody's Ratings cut Mexico's long-term local and foreign-currency issuer and senior unsecured ratings to Baa3 from Baa2 and set the outlook to stable from negative. The agency also lowered the senior unsecured shelf and MTN program ratings to (P)Baa3 from (P)Baa2, attributing the move to a sustained deterioration in fiscal strength driven by rigid …