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DUFF & PHELPS MEXICO RECEIVES MEXICAN REGULATORY APPROVAL

 DUFF & PHELPS MEXICO RECEIVES MEXICAN REGULATORY APPROVAL
 NEW YORK, Dec. 18 /PRNewswire/ -- The Comision Nacional de Valores


(CNV), Mexico's regulatory body which oversees its securities industry, authorized a new agency -- Duff & Phelps Mexico, S.A. de C.V. -- to conduct credit rating activities. The new agency, to be based in Monterrey, Mexico, is a joint venture between a group of Mexican partners and Duff & Phelps Credit Rating Co., an SEC approved rating agency in the United States.
 Initially, Duff & Phelps Mexico expects to be most active in rating corporate commercial paper. The CNV requires that a commercial paper program carry at least one rating. Until now, all issuers have been serviced by one rating agency in Mexico City. Approximately 60 percent of the total commercial paper dollar volume is, in fact, originated by companies located in the Northern region where Duff & Phelps Mexico will be headquartered.
 "As the capital markets in Mexico continue to grow, Duff & Phelps Mexico plans to rate all corporate fixed income securities, including structured financings," said Marco A. Sotomayor, spokesman for Duff & Phelps Mexico.
 Duff & Phelps anticipates an increasing need for foreign currency borrowing by U.S. corporations to offset asset exposures arising from international expansion. This is particularly true of Mexico, where the Free Trade Agreement will likely afford U.S. corporations the opportunity to take advantage of favorable labor cost and productivity trends.
 "Our objective is to move selectively into foreign markets, through partnerships with experienced, local firms, and thereby provide superior ratings coverage of both expanding U.S. corporations and local companies," said Daniel J. Donoghue of Duff & Phelps Credit Rating Co.
 -0- 12/18/91
 /CONTACT: Daniel J. Donoghue of Duff & Phelps Credit Rating, 212-908-0200/ CO: Duff & Phelps Mexico, S.A. ST: IN: FIN SU: JVN


GK -- NY013 -- 3299 12/18/91 09:51 EST
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Publication:PR Newswire
Date:Dec 18, 1991
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