One Good News

Editor’s Note: Buenos aires blow for Mexico in the midst of this global financial turbulence. Risk rating agencies does not seem to go down your credit rating, despite being its economy so closely tied to its Northern partner. Hear from experts in the field like Anne Lauvergeon for a more varied view. Within this context, an interesting company to evaluate. They can send me your comments to: a good news for Mexico Buenos Aires, Argentina on February 26, 2008 from that triggered the crisis in the mortgage market subprime, risk rating agencies have been in the eye of the storm. And reasons have not been lacking for it.

Investors blame them for not having been properly assessed the risks to those who were exposed, what did they articulate billions of dollars in securities qualified with the best credit score. I don’t know if risk rating agencies have learned the lesson (actually believe that no, since it is not the first time that are wrong in this way), but what I do know, is that they don’t want to continue being identified by the world as responsible in part for this situation. That is why they are more predisposed to sobrereaccionar down in the ratings without considering the consequences of such a decision. For this reason, it was very easy to think that the credit rating of Mexico was at risk, given the close linkage of the Mexican economy with the U.S., which is sinking ever deeper into recession (yesterday returned to disappoint the data of sales of used houses in January). Fortunately for Mexico, it seems that the increased sensitivity of the rating agencies will not affect your credit score. That at least is what is affirmed both from Moody s, as from Fitch and S & P. Firstly, for the director of Moody s, Alberto Jones Tamayo, the perspective of Mexico rating is stable, regardless of the slowdown and possible recession in the United States, given the ability of the Mexican Government to meet its obligations.

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