Fitch Analyzes Further Rating Improvement to Pemex After Repurchase of Government Money Bonds

Bloomberg Linea

Factuality

Ownership

Fitch Ratings announced a new review of the credit rating of Petróleos Mexicanos, the state company known as Pemex (’BB’), after the repurchase of global bonds with money from the Government of Mexico for almost $10 billion.The agency placed Pemex's long-term default ratings (IDR) in local and foreign currency in Positive Observation, according to a statement.Fitch's expectation is that Pemex's score as a government-related entity will improve i…

revistafortuna.com.mx

Factuality

Ownership

Reading time approx.: 2 minutes, 51 secondsProceeds to the action carried out on July 22 by the credit risk agency, one of the three most influential globally, which put in the same status the long-term note of the oil company, today in “B+”, the benchmark of the international markets. Fitch Ratings said on Friday that it placed the long-term default ratings of issuer (IDR) in local and foreign currencies of Mexican Petroleums (Pemex) in Positiv…

Expansion

Factuality

Ownership

Fitch Ratings placed Pemex in “Positive Observation”, which opens the possibility of an increase in his credit rating after years of financial pressure. The qualifier explained that the decision responds to the announcement of a public offer of acquisition for $9.9 billion , financed directly from resources of the Mexican government. If the operation is executed according to what has been announced, Fitch anticipates that the link between Pemex …