MEXICO: Quake Does Not Bring Credit Implications For The Moment – Moody's
Moody's Investors Service said that there are no credit implications for the moment for Mexico's regional and local governments affected by an 8.2 magnitude earthquake, deemed as the strongest in a century.
“The federal government will provide most of the funding for the reconstruction of the affected areas and the state of Chiapas already qualifies to receive resources from the Mexican natural disaster fund (Fonden),” said Moody's analyst Mar?a del Carmen Mart?nez Richa. “The infrastructure and basic services seem to be working normally.”
The preliminary report by the Mexican authorities indicates that the strong earthquake has left at least 37 dead, substantial material damages and tsunami warning that put several countries in the region on alert.