Rating Actions by Moody’s Local México

Moody’s Local México has taken the following rating actions in the past 24 hours:

• Withdrawn the issuer rating for the Municipality of Mérida, citing business reasons. This action does not affect the market’s perception of the municipality’s creditworthiness.

Rating Assignment

Moody’s Local México has assigned a AAA.mx rating to the Instituto del Fondo Nacional para el Consumo de los Trabajadores. This rating reflects the entity’s:

• Strong financial profile
• Long history of profitability
• Solid capitalization
• Administrative efficiency

The assigned rating is a recognition of the entity’s creditworthiness and financial stability.