S&P: Nuevo Leon view positive

Standard & Poor's said it revised the outlook on the State of Nuevo Leon to positive from stable and affirmed the mxA national scale rating.

The outlook revision reflects S&P's expectation that the state will further strengthen its debt management in the next few years, mainly by maintaining its long-term debt maturities and decreasing the amount of debt of decentralized public entities that it guarantees, according to the agency.

The rating reflects a solid and dynamic economic base, modifiable revenue, adequate budgetary performance and appropriate liquidity, S&P said.

Partially offsetting the strengths are overall limited financial flexibility and contingent liabilities, the agency noted.

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