28.9 C
New York
Monday, July 4, 2022

S&P downgrades Pemex credit view after lowering Mexico outlook

S&P downgrades Pemex credit view after lowering Mexico outlook© Reuters. FILE PHOTO: The Pemex logo is pictured during the 80th anniversary of the expropriation of Mexico’s oil industry in Mexico City

MEXICO CITY (Reuters) – Ratings agency Standard & Poor’s on Monday downgraded the stand-alone credit profile of ailing state oil firm Petroleos Mexicanos (Pemex) to b- from bb- after changing the outlook for the Mexican government to negative.

S&P said in a statement that Mexico’s plan to restore Pemex’s finances is insufficient compared with its capital needs, and that the company is exposed to political decisions that could conflict with its financial objectives.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

- Advertisement -

Latest Articles

Popular Articles