Moody's says may 'do something' about Mexican ratings

NEW YORK, May 11 (Reuters) - Moody's Investors Service is concerned about "leaks" in the Mexican economy and it may decide to act on the country's credit ratings soon, credit analyst Mauro Leos said on Monday.

"It may very well be that we will take another close look during the year. We may decide to do something about the credit," Leos told a conference in New York.

He added, however, that Mexico is not at risk of losing its investment-grade level.

"We believe that Mexico is a relatively safe-leaking vessel. The discussion is not whether it is or not investment grade, but how strong an investment-grade country it is," Leos said.

During the same conference, organized by the EMTA trade association for emerging markets, a former director for the International Monetary Fund said Mexico's ratings were too high. For details, see [ID:nN11539735].

Moody's currently rates Mexico at Baa1, or three notches into investment-grade territory. (Reporting by Walter Brandimarte; Editing by Diane Craft)