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Pemex Project Funding Master Trust's Eur750 Million Bonds Rated 'BBB-' Mar 03 Product Image

Pemex Project Funding Master Trust's Eur750 Million Bonds Rated 'BBB-' Mar 03

  • ID: 1829597
  • March 2003
  • Standard & Poors

FEATURED COMPANIES

  • Mexico
  • Petroleos Mexicanos
  • MORE

Abstract
NEW YORK (Standard & Poor's) March 28, 2003--Standard & Poor's Ratings Services said today that it assigned its 'BBB-' rating to Pemex Project Funding Master Trust's Eur750 million 6.625% bonds due 2010. Proceeds will be used to finance the investment program of its parent company, Petroleos Mexicanos (Pemex; local currency: A-/Stable/--, foreign currency: BBB-/Stable/--). The foreign currency corporate credit rating on the Pemex Project Funding Master Trust is 'BBB-'. The outlook is stable. The ratings on Pemex, the state-owned Mexican oil and gas company, and on the United Mexican States are equalized because of the government's ownership of the company, Pemex's importance to the Mexican economy, the government's heavy dependence on oil-related revenue, and the considerable government oversight of the...

Companies mentioned in this report are:
- Pemex Project Funding Master Trust
- Mexico
- Petroleos Mexicanos

Action: New Rating

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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Pemex Project Funding Master Trust
- Mexico
- Petroleos Mexicanos

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