S&P rates Pemex notes BBB, mxAAA

Standard & Poor's said it assigned its BBB global scale rating to Petroleos Mexicanos' (Pemex) $2.1 billion 3½% senior unsecured notes due 2023.

S&P also assigned its mxAAA national scale ratings to Pemex's Ps. 11.5 billion Pemex 12 notes due 2017, including Ps. 2.5 billion add-on, with a variable interest rate.

In addition, the agency assigned its mxAAA national scale rating to its Ps. 3.5 billion Pemex 12U notes denominated in inflation-linked units at a fixed rate and due 2028.

Both instruments were issued under the company's current Ps. 300 billion medium-term notes program. Pemex has already placed these issues in the market.

All of these notes benefit from Pemex Exploracion y Produccion, Pemex-Refinacion and Pemex-Gas y Petroquimica Basica's irrevocable and unconditional payment guarantee. These three entities are Pemex's subsidiaries.

© 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.