Fitch rates Pemex debt A-/AAA(mex)

Fitch Ratings said it rated the following Petroleos Mexicanos SA (Pemex) debt instruments with a long-term local currency international rating of A- and a national long-term rating of AAA(mex):

Additional certificados bursatiles of the third reopening of the 14th certificados bursatiles issuance with ticker Pemex 13. The issuance amount is, together with other re-openings referred to herein, of up to Ps. 15 billion with maturity on Feb. 28, 2019, at a variable rate; and

Additional certificados bursatiles of the third reopening of the 15th certificados bursatiles issuance with ticker Pemex 13-2. The issuance amount is, together with other re-openings referred herein of up to Ps. 15 billion with maturity on Sept 12, 2024, at a fixed rate.

Concurrently, the agency assigned a national long-term rating of AAA(mex) to Pemex's first reopening of the additional certificados bursatiles issuance with ticker Pemex 14U. The issuance amount is, together with other re-openings referred herein of up to Ps. 15 billion with maturity on Jan. 15, 2026, at a fixed rate.

The debt issuances are guaranteed by Pemex-Exploracion y Produccion, Pemex-Refinacion, and Pemex-Gas y Petroquimica Basica.

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

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