Fitch gives Mexico a negative outlook

Fitch Ratings revealed on 9 December 2016 Mexico’s credit rating would remain at BBB+ but changed the country’s outlook from stable to negative (Proceso, Forbes México). The negative outlook signals a 33 percent chance Mexico’s credit rating will be downgraded under the next review (Proceso). The company justified the outlook change by pointing out the increase in risks associated with Mexico’s growth, along with uncertainty surrounding the renegotiation or termination of NAFTA and the strengthening of U.S. immigration control. The Mexican Finance Ministry brushed off the negative outlook as a consequence of statements made by U.S. President-elect Trump and pointed to the maintenance of the credit rating as the relevant part of Fitch's report (Forbes México).