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PEMEX Master Trust Assigned 'BB+' Foreign Currency Credit Rating; PEMEX, 'BBB+' Local Currency Jul 00 Product Image

PEMEX Master Trust Assigned 'BB+' Foreign Currency Credit Rating; PEMEX, 'BBB+' Local Currency Jul 00

  • Published: July 2000
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's CreditWire) July 17, 2000--Standard & Poor's today assigned its double-'B'-plus issuer foreign currency corporate credit rating to the PEMEX Project Funding Master Trust (the PEMEX Master Trust), a Delaware trust established by Petroleos Mexicanos (PEMEX), the state oil company of Mexico, with PEMEX as the sole beneficiary. All debt issued from the PEMEX Master Trust benefits from the irrevocable and unconditional guarantee of PEMEX and its subsidiary entities, including Pemex Exploraci-n y Producci-n, Pemex-Refinaci-n, and Pemex-Gas y Petroqu-mica B-sica. Standard & Poor's also assigned its double-'B'-plus rating to PEMEX Master Trust's proposed euro 500 million senior unsecured notes issue. Concurrently, Standard & Poor's assigned its triple-'B'-plus local currency corporate credit rating to PEMEX and affirmed...

Companies mentioned in this report are: Petroleos Mexicanos (PEMEX)
Action: New Rating

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Petroleos Mexicanos (PEMEX)

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