State of Coahuila de Zaragoza, Mexico Nov 02
Standard & Poors, November 2002
Abstract
The rating upgrade on the state of Coahuila de Zaragoza, Mexico to 'mxAA' from 'mxAA-' is based on the state's improving financial, debt position. In addition, the rating continues to reflect the following credit strengths: Economic growth rates that historically are above the national average and significantly higher GSP per capita than GDP per capita; The use of independent financial audits, which lend a degree of transparency and verification of the state's financial performance; Strong historical record of budgetary performance; and Low level of contingent liabilities and manageable debt levels. Factors offsetting these credit strengths include: The limited revenue flexibility afforded to the state under the Mexican system of local government finance and a below-average level of own-source revenues compared...
Companies mentioned in this report are: Coahuila (State of)
Action: Upgraded
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Research Type: Full Analysis
Coahuila (State of)
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