Mexico May Be Closing in on Credit Rating Increase, S&P's Mukherji Says

(Bloomberg) -- Mexico's chances of a credit rating
increase are improving as President Felipe Calderon moves toward
garnering congressional approval for legislation that would boost
tax collection, said Joydeep Mukherji, a sovereign ratings
director at Standard and Poor's.

The government last week sent legislators a proposal to
boost annual tax revenue by the equivalent of 3 percent of gross
domestic product in an effort to ease Mexico's dependence on oil
export income and keep the budget deficit in check.


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