Moody’s Rates Mexico DF Bonds

Moody’s Investors Service has assigned national scale ratings of Aaa.mx and global scale (local currency) ratings of Baa1 to the upcoming bonds to be issued by Mexico’s Federal District, reflecting the credit quality of the federal government, the ultimate obligor of the debt. The bonds will total up to $1.4 billion pesos ($128 million) and will be issued via JP Morgan acting as fiduciary. Proceeds of the new debt will be used to fund infrastructure projects included in the 2006 budget and in accordance with the guidelines included in the federal government’s 2006 Revenue Law.