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.
The New York-based agency maintained the government’s investment grade status at BBB+, but lowered its outlook from stable to negative in a new warning to President Andres Manuel Lopez Obrador’s three-month-old government.
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 . . .
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