Mexico, July 11, 2016 -- Moody's de México (Moody's) downgraded the Municipality of Mexicali's issuer ratings to Caa1/B3.mx from B3/Ba3.mx following the missed payments for two short-term unsecured loans, scheduled for June 30, 2016. A MXN 814 mllion (original amount) enhanced loan with Banobras was also downgraded to B1/Baa3.mx from Ba3/Baa1.mx.

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