Moody’s ups Benito Juarez

Moody’s Investors Service said it upgraded the issuer ratings for the municipality of Benito Juarez to Ba2/A2.mx from Ba3/A3.mx (global scale, local currency/Mexico national scale).

The upgrade reflects the sustained strengthening of municipality’s gross operating balance in conjunction with a positive track record of cash financing surpluses over the last five years, the agency said.

The outlook remains stable.

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