Fitch affirms Pemex

Fitch Ratings said it affirmed the foreign currency issuer default rating and all outstanding internationally rated debt securities of Petroleos Mexicanos at BBB.

The rating affects about $29 billion of international debt issuances, the agency said.

In addition, Fitch said it has affirmed Pemex's local currency issuer default rating at BBB+ and has also affirmed the national long-term rating at AAA(mex).

The outlook is stable.

According to the agency, Pemex's ratings reflect its linkage to the government of Mexico and the company's fiscal importance to the sovereign.

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