Moody’s lowers Fermaca view to negative

Moody’s Investors Service said it changed the outlook on Fermaca Enterprises S de RL de CV to negative from stable and affirmed its senior secured regular bond rating at Baa2.

The outlook revision follows the recent similar rating actions on Comision Federal de Electricidad (CFE) and Petroleos Mexicanos (Pemex), Moody’s said.

The outlook revision reflects the company’s substantial exposure to Mexican government-owned counterparties, mainly CFE, and to a much lesser extent, Pemex, Moody’s said.

Fermaca has been involved in the Mexican energy sector and related industries for more than 50 years with a focus on the development and operation of natural gas transportation infrastructure, the agency said.

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