Moody's lowers Nayarit

Moody's Investors Service said it downgraded the State of Nayarit's global scale local-currency issuer rating to Ba1 from Baa3 and its Mexico national scale issue rating to A1.mx from Aa3.mx.

The outlook is stable.

The agency said the downgrade reflects the state's uneven financial performance and negative liquidity position, which limit financial flexibility, as well as its aggressive capital plan that will require substantial new debt.

© 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.