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LatinNews Daily - 04 August 2017
In brief: Mexico
* The international credit ratings agency Fitch Ratings has revised its outlook on Mexico’s long-term foreign and local currency issuer default ratings (IDRs) to ‘stable’ from ‘negative’. Fitch said that the revision reflects “the lower downside risks for the country’s economic growth perspectives and the stabilising of the public debt”. The ratings agency noted that it expects Mexico’s public debt to fall in 2017 and for economic growth to reach 2% this year and 2.4% in 2018-2019. Fitch’s revision is line with that carried out in July by fellow international ratings agency, Standard & Poor’s. This led the finance ministry (SHCP) to conclude that international ratings agencies have “favourably” viewed the way Mexico’s economy has handled the shocks it has faced in recent years.
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