|
|
Article: S&P rates Pemex's USD 1.5bn notes at BBB+.
- Article from:
- ADP News Latin America
- Article date:
- September 18, 2009
CopyrightCOPYRIGHT 2009 Aii Data Processing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
(ADPnews) - Sep 18, 2009 - S&P on Thursday assigned its BBB+ long-term foreign currency senior unsecured debt rating to the USD 1.5 billion (EUR 1bn) 4.875% notes due 2015 issued by Mexican oil and gas exploration and processing company Petroleos Mexicanos, or Pemex.
The notes benefit from the irrevocable and unconditional guarantee of PEMEX's subsidiary entities Pemex Exploracion y Produccion, Pemex-Refinacion, and Pemex-Gas y Petroquimica Basica.
Pemex carries long- and short-term ratings of BBB+/A-2 for foreign-currency obligations and A+/A-1 for debts denominated in Mexican pesos. The rating outlooks are "negative".
The ratings on Pemex ...