NEW YORK (Standard&Poor's) Oct. 28, 2008--Standard&Poor's Ratings Services said today that it affirmed its 'BBB+/A-2' foreign currency and 'A+/A-1' local currency sovereign credit ratings on the United Mexican States. Standard&Poor's also said that the outlook on Mexico remains stable. "The ratings affirmation and stable outlook are based on our expectation that volatility in international financial markets and the downturn in U.S. and global economic activity will not undermine Mexico's commitment to macroeconomic stability nor weaken its creditworthiness," said Standard&Poor's credit analyst Lisa Schineller. The combination of a sharp slowdown in Mexico's real GDP growth in 2009 along with lower oil revenues will place greater pressure on the government's budget. Mexico has limited
