Moody's rates Nuevo León loans Aa1.mx

Moody's Investors Service said it assigned a debt rating of Aa1.mx to two enhanced loans of the State of Nuevo León, including a 1.5 billion in Mexican peso loan from Banco del Bajío and 1 billion in Mexican peso loan from Banco Afirme. The agency also said it also assigned a global-scale, local-currency debt rating of Baa1 to these loans.

The two similarly structured loans are payable through the same trust to which the state has pledged 5% of its future federal participation revenues, Moody's said.

In the event that the loan structures change, the agency said it will assess the corresponding impact these factors may have on the ratings.

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