Mexico's Debt Rating Outlook Raised by Standard & Poor's; Bonds, Peso Gain

(Bloomberg) -- Mexico's credit rating outlook was
raised to positive from stable by Standard & Poor's, fueling a
surge in the currency and government bonds.

S&P, which rates Mexican foreign debt BBB, the second-lowest
investment-grade rating, said the change in outlook was driven by
country's efforts to reduce its foreign debt and by expectations
congress will approve legislation to bolster tax collection. S&P
rates Mexico's local debt A, the sixth-highest rating.


Read more at Bloomberg Currencies News