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PEMEX and Related Project Financings Upgraded Mar 00

  • ID: 1829106
  • March 2000
  • Standard & Poors
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  • Pemopro S.A. de C.V.
  • Petroleos Mexicanos
  • MORE

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.

Action: Upgraded

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
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- Petroleos Mexicanos
- Pemopro S.A. de C.V.

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