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Consorcio ARA, S.A.B. de C.V. -- Moody's changes ARA's outlook to negative; affirms Ba2/A2.mx ratings

Moody's de México, ("Moody's") has today affirmed the Ba2 global scale and the A2.mx national scale issuer ratings of Consorcio ARA, S.A.B. de C.V. (ARA). An extended recession indicates trouble for housing demand in Mexico, which typically depends on the availability of mortgage loans, as well as formal employment.