Jalisco, State of -- Moody's downgraded the State of Jalisco's issuer ratings to Baa3.mx, ratings under review for possible downgrade
Mexico, December 27, 2012 -- Moody's de Mexico downgraded the State of Jalisco's issuer ratings to Baa3.mx (Mexico National Scale) and to B1 (Global Scale, local currency) from A1.mx and Ba1, respectively. The downgrade reflects evidence that Jalisco did not pay the principal of a MXN 1.4 billion short-term loan with Banco Interacciones which was due on December 21, 2012. Additionally, the issuer ratings have been placed under review for possible downgrade.
