Moody’s: Pemex unaffected by note reopening

Moody's Investors Service said Pemex (Petroleos Mexicanos)’ reopening of the 6½% global notes due 2027 and 6¾% global notes due 2047 has no effect on the notes existing Baa3 ratings.

The company will use the proceeds for general corporate purposes, including investments in strategic projects and debt refinance.

The outlook is negative.

The notes were issued by Pemex and will be jointly and severally guaranteed by the company's subsidiaries, namely Pemex Exploracion y Produccion, Pemex Transformacion Industrial, Pemex Perforacion y Servicios, Pemex Logistica and Pemex Cogeneracion y Servicios.

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