United Mexican States Jun 04

Standard & Poors, June 2004

Abstract
The ratings on the United Mexican States are supported by its: Track record of macroeconomic stability and growing economic integration with the U.S. market. Mexico has sustained investor confidence despite the government's failure to legislate structural reforms and tepid economic growth in the past three years. The government has been able to contain the public-sector deficit at about 3% of GDP, partly by resisting pressure to increase spending. Growing integration between Mexico's industrial sector and the U.S. market should facilitate a sustainable economic recovery in the coming years. Improved financial stability. The Bank of Mexico's growing credibility in targeting inflation, which fell to less than 4% in 2003 (the lowest rate in 34 years), augurs well for monetary flexibility. Low...

Companies mentioned in this report are: United Mexican States,Banco Nacional de Comercio Exterior, S.N.C. (Bancomext),Petroleos Mexicanos (PEMEX),Banco Nacional de Obras y Servicios Publicos, S.N.C.,Kot Insurance Company A.G.,Pemex Project Funding Master Trust,Sociedad Hipotecaria Federal, S.N.C.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

United Mexican States,Banco Nacional de Comercio Exterior, S.N.C. (Bancomext),Petroleos Mexicanos (PEMEX),Banco Nacional de Obras y Servicios Publicos, S.N.C.,Kot Insurance Company A.G.,Pemex Project Funding Master Trust,Sociedad Hipotecaria Federal, S.N.C.

Customers who bought this item also bought

• The Mexico Defense Industry - Competitive Landscape and Strategic Insights to 2016: Market Profile
• The Mexican Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• Homeland Security Expenditure in Mexico to 2017: Market Review
• Air Force Expenditure in Mexico to 2017: Market Brief
• Army Expenditure in Mexico to 2017: Market Brief
• Navy Expenditure in Mexico to 2017: Market Brief
• Defense Expenditure in Mexico to 2016: Market Review
• The Mexican Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• The Mexico Defense Industry - Market Attractiveness and Emerging Opportunities to 2016: Market Profile
• The Mexican Defense Industry - Market Attractiveness and Emerging Opportunities to 2017: Market Profile