Moody's linked Mexico's credit outlook downgrade to the nation's government debt and the constitutional overhaul of its judiciary system.

Mexico’s credit outlook was lowered to negative from stable by Moody’s Ratings, which said recent constitutional changes risk hurting Latin America’s second-biggest economy.

Mexico's outlook was moved to negative from stable by Moody's Ratings on Thursday, as the major credit rating agency pointed to institutional and policy weakening that risks undermining the economy as well as government accounts.