Standard & Poor's issued its first ratings of mutual funds that invest in Mexican bonds. The eight funds rated by the agency represent two sponsors-Valores Mexicanos Casa de Bolsa (the Valmes funds) and Vector Casa de Bolsa (the Vector funds.)

The New York-based bond rating agency is using a dedicated system to rate Mexican funds, which reflects the credit quality of fund investments, the funds' sensitivity to changing market conditions, and the capabilities of managers.

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