Mexico’s rating drops to triple B

By Adam Thomson in Mexico City
November 24 2009 01:11

Fitch Ratings, the international ratings agency, downgraded Mexico on Monday as concern grows for the country’s medium-term fiscal outlook and growth potential.

The decision, which the administration of President Felipe Calderón had desperately tried to avoid, leaves Latin America’s second biggest economy with a rating of triple B, two notches above non-investment grade, or “junkâ€