S&P lifts Nuevo Leon

S&P said it raised the national scale rating on the Mexican state of Nuevo Leon to mxA from mxA-.

The outlook is stable.

Nuevo Leon's disciplined financial policies support fiscal sustainability and that is expected to continue over the next two years, S&P said.

The agency said it expects the state to post narrow deficits after capital expenditure, coupled with an overall stability of its liquidity position and debt burden over 2019 to 2021.

The stable outlook reflects an expectation that in the next two years, Nuevo Leon will contain the pressure on its operating expenditure and post small operating surpluses and deficits after capital expenditure slightly lower than 5% of its total revenue, S&P said.

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