Fitch rates Pemex notes BBB+

Fitch Ratings said it has assigned a long-term international rating of BBB+ to the following debt instruments issued by Petroleos Mexicanos SA: $500 million senior unsecured notes due Jan. 23, 2019; $500 million reopening of senior unsecured notes due Jan. 18, 2024; and $3 billion senior unsecured bond due Jan. 23, 2045.

The company expects to use the proceeds from the issuance to finance capital investments and refinancing needs as well as for general corporate purposes, the agency stated.

Fitch noted that Pemex's ratings reflect its close linkage to the government of Mexico and the company's fiscal importance to the sovereign.

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