Mexico sovereign debt rating downgraded by HR Ratings

HR Ratings has downgraded Mexico's sovereign debt rating, sparking concern within the Ministry of Finance and the federal government. The agency noted a deterioration in public finance balances and a downward revision of economic growth projections, estimating annual GDP growth at 1.5%, which falls below the 2.5% required to manage the country's economic pressures.

Internal government discussions have focused on redefining financial support for Petróleos Mexicanos (Pemex) and addressing fiscal pressures stemming from subsidies, transfers, and public spending commitments. Additionally, officials are analyzing how judicial reforms and potential leadership changes in the Supreme Court might contribute to economic uncertainty.