Fitch warns on Mexico budget amid Lat Am sell-off

Mexico, flag, storm, turbulence, LatAm
By Oliver West
06 Aug 2019

As Latin American bonds suffer from broader market volatility, potentially closing the primary market window to riskier names, Fitch said on Monday that Mexico’s budget would be strained in the face of weak growth and lower oil revenues.

Mexico’s sovereign took advantage of borrower-friendly conditions to wrap up its funding for the year between January and June in dollars, euro and yen. The government then jumped at the chance to carry out further liability management in dollars in July — an exercise it traditionally does ...

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