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Petroleos Mexicanos (PEMEX) Ratings Corrected To 'BBB' From 'BBB+' On Certain Bonds And Notes Nov 10 Product Image

Petroleos Mexicanos (PEMEX) Ratings Corrected To 'BBB' From 'BBB+' On Certain Bonds And Notes Nov 10

  • Published: November 2010
  • Standard & Poors

Abstract
MEXICO CITY (Standard & Poor's) Nov. 10, 2010--Standard & Poor's Ratings Services said today that it corrected its ratings on certain bonds and notes issued by state-owned Petróleos Mexicanos (PEMEX), to 'BBB' from 'BBB+'. On Dec. 14, 2009, we lowered our foreign currency rating on PEMEX to 'BBB' from 'BBB+' following a similar action on the United Mexican States (foreign currency: BBB/Stable/A-3; local currency: A/Stable/A-1). We did not change certain issue ratings at that time, and we are now correcting them by lowering them. RATINGS LIST Petróleos Mexicanos (PEMEX) To From $400 mil. 9.5% bonds due 2027 BBB BBB+ $350 mil. 9.25% bonds series B due 2018 BBB BBB+ $500 mil. 9.5% notes due 2027 BBB BBB+...

Companies mentioned in this report are:
- Petroleos Mexicanos

Action: Downgraded

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, READ MORE >

- Petroleos Mexicanos

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