In a research note, Fitch also said that Mexican companies face a subdued economy due to an expected mild recession in the United States and higher financing costs this year.
“Fitch does not anticipate any risk of lack of liquidity or the need to refinance Mexican companies in 2023, since the local bond market is open and the banking system continues to have liquidity,” said María Pía Medrano, director at Fitch, in the agency statement.