NEW YORK (Standard&Poor's CreditWire) Nov. 21, 2000--Standard&Poor's today affirmed its double-'B'-plus/single-'B' foreign and triple-'B'-plus/'A-2' local currency sovereign credit ratings on the United Mexican States. The affirmation of the ratings and the positive outlook reflect Standard&Poor's expectations that the incoming Fox Administration will adopt a sustainable macroeconomic policy mix. To do so, Standard&Poor's believes it will be necessary for Mexico to tighten its fiscal stance in 2001. This presents the next administration with a challenge, as promises made during the electoral campaign could put pressure on the fiscal accounts. Despite a large increase in the price of oil and an acceleration in aggregate demand, the 2000 budget deficit will not be significantly lower
