Home | Business News | Browse by Publication | B | Business Wire

Fitch Assigns ''AA''mex'''' to State of Mexico''s Trust Certificates.

Publication: Business Wire
Publication Date: 13-MAR-03
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

NEW YORK--(BUSINESS WIRE)--March 13, 2003

Fitch Ratings has assigned a 'AA(mex)' rating to the State of Mexico's Trust Certificates Program (Series 1-6) for a total of Ps2 billion. The unsecured debt rating of the state is affirmed at 'BB+(mex)', stable rating outlook. The State of Mexico is one of the 31 states of the United Mexican States (UMS).

The certificates were issued through a trust which is supported by the assignment of rights and irrevocable pledge of current and future revenues derived from the state's payroll tax. The assignment is effected by filing notices with the state's collecting offices and signing irrevocable acknowledgement and consent agreements with each of the financial institutions that collect more than 85% of the state tax; on a daily basis they deposit tax collections in a...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Business Wire
Fitch Rts Cobb County, GA's $39.3MM Water & Sewage Rev Refunding Bonds..., March 13, 2003
MasterCard International Hosts First Global Risk Management Symposium;..., March 13, 2003
Launching Pharmaceutical Blockbusters: Investing Early Fuels Maximum I..., March 13, 2003
2002 Fourth Quarter and Full Year Results Reported by Amphenol Corpora..., March 13, 2003
Parents Strive to Help Kids Avoid College Debt Trap; Principal Financi..., March 13, 2003

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.