LONDON (Standard&Poor's CreditWire) July 4, 2000--Standard&Poor's has affirmed its double-'B'-plus/'B' long- and short-term foreign currency ratings and its triple-'B'-plus/'A-2' long- and short-term local currency ratings on Mexico. The outlook remains positive. Vicente Fox's victory in Mexico's presidential election has changed the country's political landscape forever. Standard&Poor's still expects some volatility in the short term, due to the prospect of a still-divided congress that may complicate governability and could delay pending reforms. However, for the longer term, profound reforms could be achieved with the support of a pluralist government. The affirmation of the ratings and of the positive outlook reflects Standard&Poor's expectation that macroeconomic policy prudence will be maintained in the transition to
