Lopez Obrador criticizes ratings agencies stance towards Mexico

Mexican President Andres Manuel Lopez Obrador said on Tuesday that ratings agencies are "punishing" Mexico for the neo-liberal policies of his predecessors during the last 36 years.

Ratings agency Standard & Poor's (S&P) on Monday slashed the credit rating for Mexico's national oil company Petroleos Mexicanos or Pemex. It also lowered the credit outlooks for a range of major Mexican financial institutions and companies, including telecommunications giant America Movil and Coca-Cola Femsa, the world's largest Coke bottler.