The agency Moody's Investors Service, based in New York, is responsible for rating commercial and government institutions. Recently, on November 14, Moody's changed Mexico's rating from 'stable' to 'negative.'
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In its official statement, Moody's Ratings explained that Mexico's rating has changed from 'stable' to 'negative,' placing it in the lower-middle category of Baa2. This means the country is at the last rung of the investment category, just before the speculative category, indicating low long-term reliability.
The agency pointed out that the change in outlook is due to a weakening in policy formulation and institutional environments, particularly related to the Judicial Reform in Mexico. Moody's indicated that this constitutional reform could undermine the checks and balances of the Mexican judicial system, which would have a negative impact on the country's economic and fiscal strength.
In light of Moody's new rating and the questions that arose, the Ministry of Finance and Public Credit issued a report on the same day to clarify that this adjustment does not imply a downgrade and does not consider the most recent available data. The Ministry emphasized the importance of Moody's having access to updated information, such as the 2025 Budget and proposed fiscal projections, to conduct a more detailed and accurate analysis.
