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

  • ID: 1829125
  • November 2010
  • Standard & Poors
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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

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Research type: News
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- Petroleos Mexicanos

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