PMI is a commercial arm of PEMEX in the international energy market. We are assigning our 'BBB' foreign-currency and 'A' local-currency ratings to PMI, mirroring those on PEMEX. We believe that PMI will continue to operate as an integrated business with PEMEX. MEXICO CITY (Standard & Poor's) Dec. 14, 2010--Standard & Poor's Ratings Services said today that it assigned its 'BBB' foreign currency and 'A' local currency long-term corporate credit ratings to PMI Trading Ltd. (PMI). The outlook is stable. The ratings on PMI are based on our view of the company's operations as an integrated business with Mexico-based oil company Petróleos Mexicanos (PEMEX; FC: BBB/Stable/--; LC: A/Stable/--). "The ratings are supported by the following factors: PMI is an indirectly...
Companies mentioned in this report are:
- P.M.I. Trading Ltd.
- Petroleos Mexicanos
Action: New Rating
Action: Outlook: Stable
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