Moody's: Nuevo Leon loan Baa2

Moody's Investors Service said it assigned debt ratings of Baa2 and Aa2.mx to State of Nuevo Leon's Ps.400 million enhanced loan from Banco del Bajio with a maturity of 20 years and a pledge of 0.68% of the state's general fund participation revenues.

The proceeds were used to partially pay in advance two loans, including a Ps.750 million loan with HSBC and Ps.512 million loan with BBVA Bancomer as part of the State's debt refinancing process, Moody's said.

The debt ratings reflect the underlying creditworthiness of the State of Nuevo Leon, supported by the following legal and credit enhancements embedded in the loan, the agency said.

© 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.