On Dec. 18, 2017, we lowered the long-term sovereign local currency rating on Mexico to 'A-' from 'A' due to a change in S&P Global Ratings' criteria. As a result, we're taking similar rating actions on four government-related entities (GREs) in Mexico. The rating action doesn't indicate that we think the creditworthiness of the four GREs has deteriorated. For the next 24 months, we anticipate that these entities will keep their current links to and roles with the Mexican government, as well as stable financial and operational performances, according to our base-case expectations. The outlooks on these GREs are stable. On Dec. 19, 2017, S&P Global Ratings lowered its long-term global scale local currency ratings to 'A-' from 'A' on
