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Thu Mar 26, 2020, 08:01 PM

S&P downgrades Mexico sovereign rating on coronavirus fears

Source: Reuters

BUSINESS NEWS MARCH 26, 2020 / 6:34 PM / UPDATED AN HOUR AGO

(Reuters) - Credit ratings agency S&P on Thursday lowered Mexico’s sovereign credit rating to BBB from BBB+ due to an expected economic hit from the coronavirus pandemic and a plunge in oil prices, piling pressure on the government to lift the struggling economy.

“The pronounced COVID-19 and oil price shocks, in our view, exacerbate Mexico’s already modest growth,” S&P said in a statement.

Mexico’s economy is already in recession and the coronavirus crisis and falling crude prices have battered the outlook.

S&P said it expected Mexican gross domestic product (GDP) to decline between 2% to 2.5% in 2020 and then rebound in 2021 by a little over 2%.


Read more: https://www.reuters.com/article/us-mexico-rating-s-p/sp-downgrades-mexico-sovereign-rating-on-coronavirus-fears-idUSKBN21D3R8?il=0



-snip-
hold on.............................

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Reply S&P downgrades Mexico sovereign rating on coronavirus fears (Original post)
turbinetree Mar 26 OP
bucolic_frolic Mar 26 #1
flibbitygiblets Mar 26 #2

Response to turbinetree (Original post)

Thu Mar 26, 2020, 08:14 PM

1. Time was this would rattle markets

now there's so much money around this is positive because it's just an excuse to print more

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Response to turbinetree (Original post)

Thu Mar 26, 2020, 08:15 PM

2. US got an "AA+" rating and we have 44,000 homeless CHILDREN in NYC alone

That's just the children. And that's just New York City. The #1 reason cited is lack of affordable housing.

Source: https://www.coalitionforthehomeless.org/basic-facts-about-homelessness-new-york-city/

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