Moody’s downgrades Mexican government’s outlook to ‘negative’ over weakening of judiciary and debt

MEXICO CITY (AP) — Mexico’s president has lashed out at Moody’s ratings service after it downgraded the Mexican government’s debt outlook to “negative.” Moody’s said newly approved laws in Mexico could weaken the judiciary branch and checks and balances. It reaffirmed Mexico’s Baa2 overall credit rating but said increased government debt represented a risk for Mexico. It also mentioned the possibility that the government will have to transfer more money to shore up the highly indebted state-owned oil company Pemex. President Claudia Sheinbaum said Friday that ratings agencies often have “this bias of origin” against her party’s economic policies.