S&P rates Pemex notes BBB+

Standard & Poor’s said it assigned its BBB+ ratings to Petroleos Mexicanos’ (Pemex; foreign currency: BBB+/stable/--; local currency: A/stable/--) upcoming issuances $1.5 billion 3˝% senior unsecured notes due 2020, $1.5 billion 4˝% senior unsecured notes due 2026, and $3 billion 5 5/8% senior unsecured notes due 2046.

S&P said its foreign currency corporate credit rating on the proposed notes are the same as the sovereign foreign currency rating, based on its assessment of an “almost certain” likelihood of extraordinary support from the Mexican government.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.