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MGI Supply Ltd. Assigned 'BBB' Rating; Outlook Stable Feb 11

  • ID: 1829854
  • February 2011
  • Standard & Poors


  • Petroleos Mexicanos
  • MORE

MGI is PEMEX's trading arm for international gas purchases and sales. We are assigning our 'BBB' and 'A' foreign and local currency ratings, respectively, to MGI. We believe that MGI will continue to operate as an integrated business with PEMEX. MEXICO CITY (Standard & Poor's) Feb. 23, 2011--Standard & Poor's Ratings Services said today that it assigned its 'BBB' foreign-currency and 'A' local-currency long-term corporate credit ratings to MGI Supply Ltd. (MGI). The outlook is stable. The ratings on MGI are based on our view of the company's operations as an integrated business with Mexico-based oil company Petroleos Mexicanos (PEMEX; FC: BBB/Stable/–-; LC: A/Stable/–-). MGI is a wholly owned subsidiary of Pemex- Gas y Petroquímica Básica (PGPB), which in turn...

Companies mentioned in this report are:
- Petroleos Mexicanos

Action: New Rating
Action: Outlook: Stable

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.

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- Petroleos Mexicanos

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown


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