RATINGS Foreign Currency BBB+/Stable/A-2 Local Currency A-/Stable/A-2 OVERVIEW A track-record of cautious fiscal and monetary policies, which has contributed to limited government deficits and low inflation, and moderate external debt sustain our rating on Mexico. We expect continuity in economic policies in the coming two years, along with fiscal policy that contains the general government debt burden. We are affirming our 'BBB+/A-2' foreign currency and 'A-/A-2' local currency sovereign credit ratings on Mexico. The outlook on the long-term ratings remains stable. RATING ACTION On March 2, 2018, S&P Global Ratings affirmed its 'BBB+/A-2' foreign currency long-term and short-term sovereign credit ratings on the United Mexican States. At the same time, we affirmed our 'A-/A-2' local currency long-term and short-term sovereign
