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Moody’s Say CFE Outlook Stable, But Energy Prices Pose Risk

MEXICO
  • The state-owned electric utility of Mexico, The Comisión Federal de Electricidad is expected to have a stable credit outlook for the 12-18 months since its last downgrade to Baa2 in July, according to Moody’s. However, that could change if energy prices remain high next year and neither the govt nor regulator intervenes, a Moody’s analyst said in an interview.
    • The regulator is likely to adjust consumer prices if costs remain high and the government is likely to continue subsidizing costs in order to ensure consumers are not excessively affected.
    • High natural gas prices in particular could require additional intervention.
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