S&P rates Pemex notes BBB+

S&P said it assigned its BBB+ ratings on Petroleos Mexicanos’ (Pemex; foreign currency: BBB+/stable/--; local currency: A/stable/--) CHF 225 million 1½% senior unsecured notes due 2018 and on its CHF 150 million 2 3/8% senior unsecured notes due 2021.

S&P said it expects the company to use the proceeds from these issuances to finance its investment program and for debt refinancing.

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