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Fitch Cuts Mexico’s Ratings to Its Lowest Investment Grade

MEXICO CITY—Fitch Ratings downgraded Mexico’s debt for the second time in less than a year, lowering its rating by one notch to the lowest investment grade, saying it expects a severe recession in 2020 as a result of the coronavirus pandemic.

Fitch cut Mexico’s sovereign rating Wednesday to BBB- from BBB. The outlook is stable.

The ratings…

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