January 12, 2011 / 9:42 PM / 9 years ago

Mexico's drug war weighing on economy-Fitch

NEW YORK, Jan 12 (Reuters) - Mexico’s drug-related violence seems to be hurting the country’s economy and investment outlook, Fitch Ratings said on Wednesday.

Rising insecurity caused by drug wars could be weighing on Mexico’s growth outlook and credit ratings, Fitch said in a report in which it reaffirmed the country’s BBB foreign-currency debt rating.

“The rising wave of drug-related violence appears to be dampening confidence, retail and commerce activities, possibly weighing on a more robust investment and economic outlook,” Fitch’s analyst Shelly Shetty said in the report.

Reporting by Walter Brandimarte; Editing by Diane Craft

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