Petroleos Mexicanos -- Moody's downgrades PEMEX's ratings to Baa3/Aa3.mx; negative outlook.

Mexico, March 31, 2016 -- Moody's de Mexico ("Moody's") downgraded Petroleos Mexicanos' (PEMEX) long term national scale and global scale ratings as well as ratings based on PEMEX's guarantee to Baa3/Aa3.mx from Baa1/Aaa.mx. Simultaneously, Moody's confirmed the short term national scale MX-1 rating for Pemex. These rating actions follow Moody's Investors Service ("MIS") rating action of downgrading PEMEX's baseline credit assessment (BCA), which reflects its standalone credit strength, to b3 from ba3, and downgrading its global foreign currency and local currency ratings, as well as ratings based on PEMEX's guarantee, to Baa3 from Baa1, on March 31, 2016. The actions were prompted by MIS view that the company's current weak credit metrics will worsen as it continues to fund capital expenditures from external sources. The outlook on all ratings is negative. This concludes the review for downgrade initiated on January 21, 2016.

Vollständigen Artikel bei Moodys lesen