Mexico's credit outlook has been downgraded by Moody's Ratings from stable to negative due to concerns about the potential negative impact of recent constitutional changes on the country's economy.
The decision to maintain the credit rating reflects the challenges in fiscal consolidation, worsened by the increasing cost of debt and the expected widening of the fiscal deficit in 2024.
This change in outlook highlights the potential risks that the second-largest economy in Latin America faces as it undergoes political and economic reforms.