PMI Trading Ltd. Assigned 'BBB' Rating; Outlook Stable Dec 10

  • ID: 1828885
  • December 2010
  • Standard & Poors
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  • P.M.I. Trading Ltd.
  • Petroleos Mexicanos
  • MORE

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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- P.M.I. Trading Ltd.
- Petroleos Mexicanos

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