Fitch Ratings Improves Pemex Rating After Support From the Mexican Government

El Pais

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The Mexican government’s plan to refloat the finances of Mexican Petroleums (Pemex) has been well received by the market. On Thursday, the Fitch qualifier has raised the rating of the parastatal, passing from BB to BB+, with a stable perspective. The improvement in the qualification for the oil company, only to a seat to recover the degree of investment, is based on the “successful execution” of the repurchase of the firm’s debt for $9.9 billion…

El Financiero

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Pemex’s “stand alone” rating (which only evaluates the oil company without government support) remained in CCC.

Infobae

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This movement takes place after the completion of restructuring $9.9 billion

Sin Embargo MX

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Fitch Ratings raised Pemex’s rating from BB to BB+ with a stable perspective, thanks to government support. The oil company is one step away from regaining the degree of investment. The post Fitch raises Pemex’s rating, leaving it a step away from regaining the degree of investment first appeared on SinEmbargo MX.Read the full text in sinembargo.mx

energymagazine.mx

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Fitch Ratings raised Pemex’s rating to BB+, highlighting the government’s support; the oil company is at a single level of investment. Qualifier Fitch Ratings announced Thursday an increase in the credit rating of Mexican Petroleums (Pemex), which went from BB to BB+ with a stable perspective, placing just one step away from recovering the long-awaited degree of investment. This improvement follows the successful repurchase of bonds for $9.9 bil…

revistafortuna.com.mx

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Reading time approx.: 2 minutes, 35 secondsIt meant withdrawing the Positive Observation in which it was placed on September 21. The Perspective of the new qualification is Stable, that is, it will maintain this status in the next 18 to 24 months. The agency noted that Pemex now qualifies only at a level below Mexico's Sovereign Rating. Fitch Ratings said in a paper distributed on Friday that it withdrew the Long-Term Emissions Non-Complimentary…