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Fitch Ratings improves rating of Mexican sovereign debt.

Internet Securities, June, 2004

MEXICO CITY, Jun 18, 2004 (El Universal/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Risk-rating agency Fitch Ratings has increased Mexico's sovereign debt rating from "BBB-" to "BBB" due to changes in its rating methodology.

Based on the firm's risk scale, "BBB" is an investment grade due to the high quality of credit and low risk, which means that the financial payment capacity is considered adequate.

Fitch Ratings made it clear that this category is the lowest within the investment grade because adverse situations and changes in economic conditions are likely to deteriorate repayment capacity. Fitch said that the changes in its measuring methodology would allow a more sophisticated analysis to assign sovereign debt grades and make credit...

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