Mexico’s sovereign credit rating is still investment grade, but the outlook has slipped from stable to negative, the rating agency said on Wednesday. The stalled Mexico City airport project, one AMLO says is mired in dirty money, is just part of the problem. His sole decision to cancel the construction of a new airport for Mexico City and potentially build one elsewhere—a failing bid—sent a negative signal to investors. JPMorgan analysts think Banxico won’t stop there and will hike again in December, a negative for Mexico ETF investors. He also said that investors such as debtholders and contractors in the now abandoned Mexico City airport project will be protected.

Source: Forbes October 31, 2018 19:48 UTC