Moody's could lift Pemex

Moody's de Mexico said it placed Petroleos Mexicanos' (Pemex) Baa1 foreign currency and global local currency ratings on review for upgrade.

At the same time, the agency affirmed Pemex's Aaa.mx national scale rating.

The review is prompted by Moody's Feb. 5 upgrade of the government of Mexico's bond rating from Baa1 to A3. The review will consider: (a) the higher rating of the government owner and the rating agency's underlying views on government support and dependence; and (b) the impact of energy reform on Pemex's fundamental operating and financial profile.

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