Rating Report

DBRS Morningstar Changes Trend on Mexico to Stable; Confirms at BBB

Sovereigns

Summary

DBRS Inc. (DBRS Morningstar) confirmed the United Mexican States’ (Mexico) Long-Term Foreign and Local Currency – Issuer Ratings at BBB. At the same time, DBRS Morningstar confirmed the United Mexican States’ Short-Term Foreign and Local Currency – Issuer Ratings at R-2 (high). The trend on all ratings has been changed to Stable from Negative.