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Fitch Says Probability of Rating Downgrade Is Small

MEXICO
  • Fitch have been holding an event to discuss environmental, social and governance practices in Mexico.
  • Fitch’s Latin America sovereign debt chief Carlos Morales said that Mexico has a low risk of seeing its credit rating downgraded in the coming months.
    • However, slow growth in Mexico has harmed credit rating and Fitch expects to revise Mexico GDP downwards.
    • Mexico won’t hit pre-pandemic GDP until 2023.
  • Additionally, Fitch sees Banxico being restrictive until CPI in range.

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