S&P: Mexico rating BBB+, outlook Stable

The US-based ratings agency punished its latest credit review of the Mexican economy, upgrading the country’s credit outlook to stable from negative.

Key Points:

S&P revises Mexico sovereign credit outlook up to stable from negative; current rating is BBB+

Outlook on Mexico revised to stable from negative on improved debt prospects; 'BBB+/A-2' ratings affirmed

Expect Mexico's general government debt burden will hover around 45% of GDP this year and next and remain below 50% for the next two years

Expect Mexico's external liquidity profile will remain stable in the coming three years

Expect government's underling fiscal balance to improve in 2017 and remain stable in 2018

Project that Mexico's general government debt will rise by just over 3% of GDP annually on average in the next three years

Projections assume a stable level of non-resident holdings of Mexico's central government debt

Revising outlook on Mexico, reflecting diminishing risk that direct debt burden could materially worsen overall debt assessment over next 24 months