Mexico's recent ratings downgrades are linked to the ruling Morena party's consolidation of power. For foreign investor confidence, President Sheinbaum must address Morena's legacy and alleged cartel ties.

<p>Mexico’s recent ratings downgrades are merely a symptom of a more serious malady: the ruling Morena party’s efforts to consolidate power permanently. To ensure the legal predictability foreign investors require, President Claudia Sheinbaum would need to confront Morena’s ideological legacy and, more importantly, its cartel ties.</p>