The rating agency Moody's reduced the rating of the Federal Electricity Commission (CFE) to 'Baa2' from 'Baa1', although it changed its outlook to 'stable' from 'negative', after its decision to downgrade Mexico's sovereign rating.
Last Friday, the agency cut Mexico's rating to 'Baa2' from 'Baa1', citing economic and fiscal trends that it expects will continue to undermine the credit profile. In addition, on Monday the note of the state oil company Pemex fell to 'B1' from 'Ba3'.
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