Mexico, July 11, 2016 -- Moody's de México (Moody's) downgraded the State of Veracruz's issuer ratings to B1/Baa3.mx from Ba3/A3.mx and placed the ratings under review for further downgrade. At the same time, Moody´s downgraded the debt ratings of the following 12 enhanced loans and placed the ratings under review for further downgrade:

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