Moody's assigns Ba3/A3.mx debt ratings to a MXN 750 million loan of the state of San Luis Potosi
Mexico, November 15, 2016-- Moody's de Mexico has today assigned debt ratings of Ba3 and A3.mx to a MXN 750 million loan from Banorte with a maturity of 7 years. The loan is payable from payroll taxes which flow through a trust. Although the state is still in the process of negotiating the instructions to have payroll taxes flow directly to the trust, it is the state's expectation that 50% of payroll taxes will be pledged to the trust for debt repayment.
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