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Summary: Petr?leos Mexicanos (PEMEX) Sep 10
Standard & Poors, September 2010
Standard & Poor's Ratings Services' ratings on Petr-leos Mexicanos (PEMEX) reflect our opinion that there is an "almost certain" likelihood that the Mexican government would provide timely and sufficient extraordinary support to PEMEX in the event of financial distress. The foreign-currency credit rating on PEMEX is two notches above the company's stand-alone credit profile. In accordance with our criteria for government-related entities, our view of an almost certain likelihood of extraordinary government support is based on our assessment of PEMEX's "critical" role as the only exploration and production company operating in Mexico, its provision of close to 40% of Mexico's public-sector revenue through taxes and dividends, and its "integral" link with the government, given the government's full and stable ownership...
Companies mentioned in this report are: Petroleos Mexicanos (PEMEX)
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Petroleos Mexicanos (PEMEX)