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UNITED MEXICAN STATES PESO-DENOMINATED SECURITIES RATED 'AA+' BY DUFF & PHELPS

 CHICAGO, May 19 /PRNewswire/ -- Duff & Phelps Credit Rating Co., the rating agency based here, has rated all peso-denominated securities of the United Mexican States -- cetes, ajusto bonos and bondes -- `AA+' (double A plus).
 "The high rating is certainly merited," said Daniel J. Donoghue, Duff & Phelps' senior vice president. "After all, no Mexican administration has ever defaulted on peso-denominated debt -- despite the country's past financial difficulties. In fact, we did not rate the securities Triple A only because of the extremely remote possibility of civil or political upheaval."
 In addition, according to Mr. Donoghue, the `AA+' rating is appropriate because the Mexican government has the authority to print sufficient money to meet its debt obligations, even under the most severe conditions. The rating, therefore, only addresses Mexico's ability to meet its contractual obligations, not the investors' ultimate real returns.
 The credit rating agency's optimism is further buttressed by its belief that Mexico's succeeding government -- which will come to power in December 1994 -- will pursue policies similar to those of the current administration.
 "We feel assured that Mexico will continue to reform its economy, thus helping to ensure long-term stability," said Mr. Donoghue.
 In addition to the `AA+' rating of peso-denominated securities, Duff & Phelps has assigned an investment grade rating (BBB) to a Mexican foreign currency obligation of maturity within three years.
 The `BBB' assigned to this proposed Samurai issue reflects the general economic performance, fiscal/monetary restraint and political stability of Mexico, according to Mr. Donoghue, who explained that the short maturity was required to offset the fact that the country's debt restructuring occurred just four years ago.
 A more detailed report on these new ratings of Mexican securities is available from Duff & Phelps by calling Linda Peart at 312-368-3114.
 -0- 5/19/93
 /CONTACT: Daniel J. Donoghue of Duff & Phelps Credit Rating Co., 312-368-3121, or Roberto Guerra of Duff and Phelps de Mexico, 52-83-35-71-79/


CO: United Mexican States ST: IN: SU: RTG

CK -- NY033 -- 0215 05/19/93 10:45 EDT
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Publication:PR Newswire
Date:May 19, 1993
Words:331
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