Pemex Project Funding Master Trust's Eur750 Million Bonds Rated 'BBB-' Mar 03
- ID: 1829597
- March 2003
- Standard & Poors
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
- Petroleos Mexicanos
Action: New Rating
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Research type: News
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