Moody’s said it had downgraded the government’s debt outlook from “stable” to “negative” because newly approved laws in Mexico could weaken the judiciary branch and checks and

Moody's linked Mexico's credit outlook downgrade to the nation's government debt and the constitutional overhaul of its judiciary system.

Mexico's outlook was moved to negative from stable by Moody's Ratings on Thursday, as the major credit rating agency pointed to institutional and policy weakening that risks undermining the economy as well as government accounts.

Mexico’s credit outlook was lowered to negative from stable by Moody’s Ratings, which said recent constitutional changes risk hurting Latin America’s second-biggest economy.

Moody's Ratings has downgraded its Mexico outlook to negative but maintained the country's overall credit rating at Baa2.

The Mexican Peso recovered some ground against the US Dollar during the North American session, shrugging off Moody’s adjustment on Mexico’s credit outlook and upbeat US Retail Sales data. At the time of writing, the USD/MXN trades at 20.34, down by 0.24%.

Mexico's president has lashed out at Moody’s ratings service after it downgraded the Mexican government’s debt outlook to “negative.”

Mexico’s president lashed out Friday at Moody’s ratings service after it downgraded the Mexican government’s debt outlook to “negative.”