NEW YORK (Standard & Poor's CreditWire) March 13, 2000-- Standard & Poor's today raised its long-term foreign currency corporate credit and senior unsecured debt ratings on Petroleos Mexicanos (PEMEX) to double-'B'-plus from double-'B'. The outlook for the ratings remains positive. The upgrade of the rating on PEMEX reflects the upgrade earlier today of the foreign currency rating of the company's sole shareholder, the United Mexican States (UMS), from double-'B' to double-'B'-plus. Also upgraded were the ratings on Conproca S.A. de C.V. and Pemopro S.A. de C.V., modernization projects at the Cadereyta and Madero refineries respectively, the ratings of which reflect those of PEMEX. The ratings on PEMEX, the Mexican national oil company and the UMS are the same, because of...
Companies mentioned in this report are:
- Petroleos Mexicanos
- Pemopro S.A. de C.V.
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