2024-07-24 22:07:50
The rating agency Fitch ratified the long-term sovereign debt of Mexicoplacing it at BBB-, above the investment grade.
Fitch highlighted the prudence of macroeconomic policies, the stability of external accounts and a public debt in relation to the Gross Domestic Product (GDP) below others peer economies.
With this announcement, seven agencies have ratified Mexico’s credit rating this year, he said. Hacienda.
The ratification indicates that no changes are expected over the next 12 to 18 months. With this decision, the Treasury Department said, Fitch recognizes a prudent, consistent and credible macroeconomic policy framework.
He assured that the increase in the fiscal deficit estimated for 2024 is in line with what was proposed by the Ministry of Finance and towards 2025Although the agency expects greater spending than expected, it clarifies that it will be until the delivery of the 2025 Economic Package that the fiscal results will be observed in greater detail.
Fitch underlined the Economic backing of this administration to Pemex and highlighted the budget line included in the 2024 economic package as a reflection of transparency and commitment on the part of the Government.
“Although challenges persist in the company, these support measures will be sufficient to cover its debt commitments acquired for the current year,” he said. Hacienda.
This ratification of sovereign debt will allow continued favorable access to the national markets e international.
The Treasury maintains its commitment to maintaining stability in the public finances and debt.
Citibanamex He commented in a financial analysis that the decision is based on a prudent macroeconomic framework and stable and robust external finances, although weak governance, meager Growth and fiscal pressures remain risks.
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2024-07-24 22:07:50