Mexico's Debt Rating Outlook Raised by Standard & Poor's; Peso, Bonds Gain

(Bloomberg) -- Mexico's credit rating outlook was
raised to positive from stable by Standard & Poor's Ratings
Services, fueling a surge in the country's currency, stocks and
government bonds.

S&P, which rates Mexican foreign debt BBB, the second-
lowest investment-grade rating, said the change in outlook was
driven by the country's efforts to reduce its foreign debt and
by expectations congress will approve legislation to bolster tax
collection. S&P rates Mexico's local debt A, the sixth-highest
rating.


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