Moody's gives Mexico loan Baa3

Moody's de Mexico said it has assigned provisional ratings of Baa3 (global-scale, local currency) and provisional Aa2.mx (Mexican national-scale) to the Ps. 600 million loan issued by Banco del Bajio to the State of Mexico.

The Ps. 600 million Banco del Bajio loan has a maturity of 15 years and interest coupon is composed by the 28-day Mexican Interbank plus 180 basis points, the agency said.

The loan is a direct obligation of the state and is payable through already existent trust - Bank of New York - to which the State of Mexico has pledged the rights to 100% of its federal participation revenues (Ramo 28) and to 25% of its revenues from the Fondo de Apoyo para el Fortalecimiento de las Entidades Federativas, the agency added.

© 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.