Obbligazioni valute high yield MESSICO, PEMEX e Obbligazioni in pesos (MXN)

PEMEX 'BBB+' Foreign, 'A-' Local Currency, 'mxAAA/mxA-1+' National Scale Ratings Affirmed; SACP Cut To 'bb-' From 'bb'
  • 31-Aug-2018 17:07 EDT
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  • Our ratings on Mexican oil company PEMEX continue to reflect our
    expectation of an almost certain likelihood of extraordinary government
    support if the company runs into financial difficulties.
  • We're affirming our global scale 'BBB+' foreign currency and 'A-' local
    currency rating, and national scale 'mxAAA/mxA-1+' issuer credit ratings
    on the company.
  • We're also affirming our 'BBB+' foreign currency and 'A-' local currency
    issuer credit ratings on PEMEX's subsidiaries.
  • We have revised our stand-alone credit profile (SACP) on the company to
    'bb-' from 'bb' due to the continued decline in oil production volumes
    that is constraining the company's ability to improve its leverage
    metrics.
  • The stable outlook on PEMEX mirrors that on the sovereign rating, and
    reflects our view that the relationship between the company and the
    sovereign will remain unchanged in the next couple of years.
 
Mexico’s incoming government — which has been reluctant to spell out whether it will continue auctions that opened up the country’s long-closed oil sector to private investment — will hold tenders for drilling oil wells from early December, when it takes office, president-elect Andrés Manuel López Obrador said. (FT)
 
Mexico’s oil industry rescue won’t add to Pemex debt, incoming deputy minister says
Mexico’s federal government will shoulder a chunk of the planned $11bn rescue for the oil industry, while sparing state oil company Pemex from taking on additional debt to finance it, incoming deputy finance minister Arturo Herrera has said. (FT)
 

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