Shelly Shetty, Co-Head of Sovereigns-Americas, and Charles Seville, Senior Director, Americas Sovereigns, discuss Mexico’s rating downgrade, our main rationale behind our rating action and our overall views on how Mexico is placed to face the current difficult circumstances of global recession, including the contraction of the U.S., lower oil prices, coronavirus impact and other potential hits. What are the main drivers of Mexico’s economic recession? How will Mexico respond to the external shocks, and what’s ahead?