MIAMI — Cosme (KAHS'-may) has weakened to a tropical storm in the cold waters of the Pacific Ocean well off the coast of Mexico.

The storm had top sustained winds of 60 mph (96 kph) late Tuesday. Forecasters say the storm will gradually weaken Wednesday and Thursday.

The U.S. National Hurricane Center in Miami says Cosme is centered about 495 miles (797 kilometers) southwest of Cabo San Lucas, Mexico. It is moving west-northwest at 14 mph (23 kph).

The center says the storm is generating large swells that are affecting parts of Mexico's Pacific coast and its Southern Baja California Peninsula. The swells are likely to cause dangerous surf and rip current conditions.

No coastal watches or warnings are in effect, and the storm is moving away from land.