Moody’s assigns Pemex notes Ba2

Moody’s Investors Service said it assigned a Ba2 rating to Petroleos Mexicanos’ (Pemex) proposed notes maturing in 2025. The company’s ratings, including its Ba2 corporate family rating and negative outlook, are unchanged.

The company will use the proceeds for general corporate purposes, including refinancing indebtedness.

The notes will be guaranteed by Pemex’s operating subsidiaries, Pemex Exploracion y Produccion, Pemex Transformacion Industrial and Pemex Logistica.

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