S&P affirms Coahuila

Standard & Poor's said it affirmed its mxAA national-scale rating on the State of Coahuila, United Mexican States.

The outlook is stable.

Based upon its 2007 budget, Coahuila will likely request up to Mexican peso 1.25 billion to finance infrastructure projects, the agency said, noting that debt levels should then reach a manageable 15% of 2007 budgeted discretionary revenue and it does not expect any impact on the rating.

The rating is supported by a solid and fairly diversified economic base, with gross state product per capita higher than the national average, although the economy continues to be vulnerable to U.S. economic cycles and a strong budgetary performance, with operating balances reaching 17% of operating revenue in 2006, the agency noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.