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Research Update: MGI Supply Ltd. 'BBB' Foreign Currency And 'A-' Local Currency Ratings Affirmed; Outlook Remains Stable Aug 12 Product Image

Research Update: MGI Supply Ltd. 'BBB' Foreign Currency And 'A-' Local Currency Ratings Affirmed; Outlook Remains Stable Aug 12

  • Published: August 2012
  • Standard & Poors

Abstract
Mexico-based MGI Supply is PEMEX's subsidiary's trading arm for international natural gas purchases and sales. We are affirming our 'BBB' foreign currency and 'A-' local currency ratings on MGI. The stable outlook reflects our belief that MGI will continue to operate as an integrated business within PEMEX. On Aug. 7, 2012, Standard & Poor's Ratings Services affirmed its 'BBB' foreign currency and 'A-' local currency corporate credit ratings on MGI Supply Ltd. The outlook is stable. The affirmation follows our regular annual review on PEMEX and its rated subsidiaries. The ratings on MGI are based on our view of its business being integrated with Mexico-based oil company Petroleos Mexicanos (PEMEX; foreign currency: BBB/Stable/--; local currency: A-/Stable/--). As a result, the...

Companies mentioned in this report are: MGI SUPPLY LTD,Petroleos Mexicanos,P.M.I. Trading Ltd.
Action: Affirmed

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 READ MORE >

MGI SUPPLY LTD,Petroleos Mexicanos,P.M.I. Trading Ltd.

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