新浪微博
腾讯微博
微信
QQ空间
QQ好友
手机阅读分享话题

World

Mexican businesses face low liquidity risk, says Moody's

2021-06-18 15:22:32

MEXICO CITY, June 17 (Xinhua) -- Mexican businesses have sufficient resources to meet their debt obligations until 2022, as the country's economy recovers from the collapse caused by the COVID-19 pandemic, the rating agency Moody's Investors Service said on Thursday.

In a corporate analysis of Mexico, the agency pointed out that the majority of the country's businesses face some foreign exchange risk, but in general exposure is low because most of their earnings are recorded in foreign currency.

"Although 96 percent of the companies we reviewed are exposed to foreign exchange risk from the cost of raw materials or foreign currency debt, the majority have low currency exchange risk," said the report.

The rating agency forecasts economic growth for Mexico of 5.6 percent in 2021 and 2.7 percent in 2022, after the economy plunged by 8.3 percent in 2020.

On the corporate side, it anticipates a slow recovery for the airlines, airport and accommodations industries, which were most affected by the pandemic.

In contrast, the telecommunications, chemicals, retail, packaged foods and non-alcoholic beverages sectors, among others, continue to show a sustained recovery since the second half of 2020.

On April 29, Moody's ratified Mexico's long-term foreign-currency and local-currency issuer ratings at Baa1 and maintained its negative outlook as long as downside risks prevail for the economy after the collapse caused by the pandemic. Enditem

Editor:Jiang Yiwei