Mexican issuers could be leaning toward corporate issuance rather than structured transactions as improvements in the economic outlook and higher credit ratings lure issuers to the local capital markets.

"Some of Mexico's strongest issuers - such as glass products producer Vitro, cement maker Cemex and media giant Televisa - are returning to the local market because of lack of appetite for their paper in the international markets," said Marco Sotomayor, director of Duff & Phelps Credit Rating Co. in Mexico.

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