Mexican Credit Rating Gets Another Upgrade

Mexico’s credit rating received its second major boost in a week as Standard & Poor’s raised its rating on the nation’s debt to BB-plus, one notch shy of the coveted investment-grade rating of BBB-minus. Less than a week ago, Moody’s Investors Service upgraded Mexico into investment-grade status, spurring a rally in the prices of Mexican bonds and stocks. S&P; said the upgrade reflects its expectation that prudent macroeconomic policies will be maintained in the next administration by either of the two leading presidential candidates. Mexico will elect a new president this summer.