S&P lowers Nuevo Leon view to stable

Standard & Poor’s said it affirmed the mxA- national scale issuer credit rating on the state of Nuevo Leon.

The agency also said it revised the state’s outlook to stable from positive.

The rating reflects an expectation that Nuevo Leon will continue facing budgetary pressures on its revenue and its expenditures, which will be visible in its recurrent financial requirements and will keep its liquidity in a less-than-adequate position in 2016 and 2017, S&P said.

The rating also considers the challenges that the new management will face in stabilizing its financial profile, as well as its weak budgetary flexibility and evolving and unbalanced institutional framework, the agency said.

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