Moody’s ups Nuevo Leon loan

Moody's Investors Service said it affirmed the Baa1 global scale, local-currency and Aa1.mx Mexico national scale debt ratings of the State of Nuevo Leon's Ps. 800 million enhanced loan from Multiva.

The agency also upgraded the debt ratings of its Ps. 2 billion enhanced loan from Interacciones to Baa1 and Aa1.mx from Baa2 and Aa2.mx.

The actions follow the state's acquisition of interest rate swaps for both loans.

The upgrade of the enhanced loan with Interacciones reflects higher debt service coverage due to the interest rate swap, Moody’s explained.

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