Mexican Bonds: From Issuer with Category A at One Step Away From Being Marketed as Garbage Due to Pemex Debt
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The controversy is there: Mexico’s 10-year debt bonds are paying rates similar to those of countries that have no level of investment, says a Bloomberg note. The Treasury Secretariat answers: Mexico’s perception of credit risk and Pemex has improved. This improvement is expressed in the significant reduction of Credit Default Swaps, October 2024 to date.
With public spending on high and mediocre economic growth, Mexico is close to losing the degree of investment – and one of the reasons for this is the recurring capitalizations that the government has made in Pemex. According to Bloomberg, in the last two years the Government of the Leftist Claudia Sheinbaum coordinated more than $50 billion in financial relief operations to the state. These values have been added to the US$ 80 billion that its …
The poor performance that Petróleos Mexicanos (Pemex) has been dragging for several years despite the government’s support from the administration of President Claudia Sheinbaum and her predecessor, Andrés Manuel López Obrador (AMLO), has begun to submerge the country’s bonds. According to Bloomberg’s analysis, the performance of the state oil company has caused the sovereign’s instruments, which some years ago were traded in emerging markets un…
In the last two years alone, left-wing president Claudia Sheinbaum has managed financial bailouts for Pemex for over $50 billion
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