Pemex credit rating. 32tn pesos of financial help since taking office in .

Pemex credit rating Credit rating firms S&P, Moody’s and Fitch noted that the NOC’s ranking is backed up by government support, though they evaluated the bonds as speculative due to the state company’s complicated financial situation. Oct 8, 2024 · Each scenario has different implications for PEMEX's rating, with the first scenario being the most likely due to its ease of implementation and minimal impact on the country's fiscal metrics. Issue, Issuer, Yield, Prices, Payments, Analytical Comments, Ratings Aug 11, 2023 · All figures and ratios are calculated using Moody’s estimates and standard adjustments. 6 billion) net loss in 1Q22. However, Rodríguez sees this as both an opportunity Dec 5, 2024 · Moody's Integrity Hotline. Source: El Economista (sp), Financial Times (en), Reuters (en) Dec 5, 2020 · S&P Global Ratings on Friday kept the credit rating of Petroleos Mexicanos (Pemex) unchanged after it confirmed the investment grade rating of Mexico's government, which serves as the benchmark Jan 18, 2024 · Issuer: Petroleos Mexicanos (PEMEX) Debt Level: senior unsecured Issue: USD 2. In this scenario, Moody’s Investors Service recently downgraded PEMEX’s credit rating based on its economic prospects due to a negative debt record and economic outlook. “All these solutions are short term, but structurally something has to be done, because Jul 28, 2023 · Mexican state energy company Pemex, whose financial debt ballooned to $110. Equivalent to "higher" relative importance within Navigator. This is based on our assessment of the government's almost certain likelihood of extraordinary support to PEMEX, under a scenario of financial distress. Then, at the prompt, dial 866-330-MDYS (866-330-6397) Jul 29, 2022 · maturities. Mexico state oil firm Pemex's debt with suppliers Apr 1, 2021 · PEMEX ratings reflect the company's moderate linkage to Mexico's credit quality coupled with its weak Standalone Credit Profile (SCP), which Fitch believe is commensurate with a 'ccc-' SCP. Rating and Investment Information. The current Feb 13, 2024 · The stimulus consists of a tax credit equivalent to 100% of the company's profit sharing rate, or DUC, for October, November and December 2023, as well as January 2024, the decree published in the The company has been at risk of downgrade since January when Fitch downgraded Pemex's credit rating within a whisper of junk. for regulatory purposes, pursuant to the terms of the EU CRA Regulation or the UK Credit Rating Agencies (Amendment etc. Oct 21, 2024 · Fitch Ratings affirmed the 'B+' LT Int. The principal methodology used in this rating was the Global Integrated Oil & Gas Industry published in April 2014. 1% of 2023 GDP) of additional support between 2024 through 2027. Mar 4, 2019 · Ratings agency Standard & Poor's (S&P) on Monday slashed the credit rating for Mexico's national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the Dec 21, 2023 · Moody's Investors Service downgrades LT- foreign currency credit rating of Pemex to "B3"; outlook negative 12/02/2024; Fitch Removes Pemex's IDRs from Negative Rating Watch; Affirms Ratings at 'B+' (Rating action commentary) 21/12/2023; New issue: Issuer Pemex issued international bonds (US71654QDP46 Aug 31, 2018 · PEMEX's profitability and optimizing its operations through the use of international trade. 由于此网站的设置，我们无法提供该页面的具体描述。 Standard & Poor's credit rating for El Salvador stands at B- with stable outlook. In a statement, the agency said the oil company's ratings are four notches below Mexico's, with the company remaining financially vulnerable and its environmental, social and governance (ESG) criteria track record further impairing its ability to Nov 12, 2024 · Pemex is an integrated group engaged in oil and gas exploration, production, refining and transport, as well as petrochemicals. A. July 23, 2020 5:58 PM UTC Updated ago MEXICO CITY (Reuters) - Ratings agency S&P said Oct 4, 2023 · Pemex’s metrics have been a point of contention between Pemex, the Mexican government, and Moody’s. Apr 13, 2019 · Mexican Finance Minister Carlos Urzua said on Saturday he does not expect rating agencies to further downgrade the credit rating of state-owned energy company Pemex. Nov 16, 2024 · It reaffirmed Mexico’s Baa2 overall credit rating, but said increased government debt represented a risk for Mexico. . UL), by two notches from B1 to B3. We believe the company will continue to need significant government support in the near term. Then, at the prompt, dial 866-330-MDYS (866-330-6397) Jul 28, 2021 · Ratings agency Moody's on Tuesday downgraded Mexican state oil giant Pemex by one notch to Ba3, sending the loss-making company's debt deeper into so-called junk territory as it criticized its Nov 25, 2024 · General Motors Company Entity with Fitch Analyst Adjusted Financials as featured on Fitch Ratings. Related news posts. Dec 23, 2024 · Fitch Ratings affirmed Pemex's long-term foreign and local currency rating at 'B+' and maintained its stable outlook. It is fully owned by the Mexican government and explores for and produces oil and gas in Mexico only. 15, 2025--Inflation eased in most emerging markets (EMs) in 2024, though the median remained above most central bank targets, according to S&P Global Ratings' report published today titled "Emerging Markets Monthly Hi 由于此网站的设置，我们无法提供该页面的具体描述。 Jun 9, 2015 · However, for the foreseeable future, Moody's expects Pemex's debt ratings to remain closely linked to the those of Mexico. Weak Underlying Credit Quality: PEMEX's SCP is aligned with a 'ccc-' credit profile, were it not state owned and receiving government support. Nov 13, 2024 · Moody's Integrity Hotline. ) credit rating of Pemex on December 16, 2024. 6 percent on Monday after the S&P moves Oct 24, 2014 · provide timely and sufficient extraordinary support to PEMEX in the event of financial distress. Mexico and Pemex credit rating 5-year CDS and S&P’s credit rating Basis points in vertical axis, credit rating in horizontal axis Source: Banorte with data from Fitch Ratings, S&P Global Ratings and Moody’s Investors Service Jul 28, 2021 · Ratings agency Moody's on Tuesday downgraded Mexican state oil giant Pemex by one notch to Ba3, sending the loss-making company's debt deeper into so-called junk territory as it criticized its Apr 17, 2020 · 1 Mexico Mexico keeps ‘investment grade’, despite Moody’s sovereign and Pemex downgrade Moody’s Investors Service cut Mexico’s credit rating by one-notch to ‘Baa1’, from ‘A3’, while maintaining the outlook ‘negative’ The reaction from the market was limited, as the move was highly discounted Oct 24, 2014 · Category Moody's Rating Outlook Stable Issuer Rating Baa1 Senior Unsecured Baa1 NSR Senior Unsecured -Dom Curr Aaa. Moody's assumptions reflect the Moody’s cut Pemex’s rating by two notches to Ba2 from Baa3, becoming the second ratings firm to strip the highly indebted oil company of its investment grade. Moody’s, the renowned rating agency, made a significant move on Friday by downgrading the rating of Mexico’s state-owned oil company, Pemex (PEMX. Jul 25, 2023 · Moody’s lowered the outlook on its ratings on Pemex’s debt on Friday to “negative” from “stable” but left the sub-investment-grade ratings unchanged. SAO PAULO (S&P Global Ratings) Jan. Policy Uncertainty Guides Emerging Markets' Stance, Says Monthly Highlights Report. 5 days ago · Petroleos Mexicanos (PEMEX) Entity with Fitch Analyst Adjusted Financials as featured on Fitch Ratings. for regulatory purposes, pursuant to the terms of the EU CRA Regulation or the UK Credit Rating Jul 6, 2022 · medium-term. 4 days ago · Japan Credit Rating Agency. Issue, Issuer, Yield, Prices, Payments, Analytical Comments, Ratings Aug 21, 2023 · Fitch Ratings warned that the Mexican government could see a negative impact on its credit rating should it increase its support toward PEMEX, to the point of causing higher deficits and an increase in public debt. Moody's credit rating for El Salvador was last set at Caa1 with stable outlook. Moody’s evaluation of Pemex’s Baseline Credit Assessment was poor due to a number of financial risks. Pemex’s risks included issues related to declining oil production and proven reserves, a high tax burden, and a significant negative annual free cash flow. Moody's credit rating for Mexico was last set at Baa2 with negative outlook. Then, at the prompt, dial 866-330-MDYS (866-330-6397) Feb 10, 2024 · The credit rating company lowered Pemex’s corporate debt to B3 from B1 and maintained its negative outlook, according to a statement Friday. 15, 2025--Inflation eased in most emerging markets (EMs) in 2024, though the median remained above most central bank targets, according to S&P Global Ratings' report published today titled "Emerging Markets Monthly Hi Dec 5, 2024 · Moody's Integrity Hotline. Then, at the prompt, dial 866-330-MDYS (866-330-6397) Moody's Investors Service revised outlook on Pemex to negative and affirmed at "B1" (LT- foreign currency) credit rating 24/07/2023; Fitch Ratings downgrades LT Int. mx NSR BACKED Senior Unsecured - Dom Curr Aaa. 51 KB. S. Moody’s (5) S&P (5) Mexico: BBB- Baa2 : BBB: Pemex: B+ : N/A : BBB: Pemex financial performance. PMI has implemented its own risk-management policies, but conducts its operations according to PEMEX's risk-management practices. This action is one of the results of the company’s commitment and efforts to strengthen its financial structure: I. In our opinion, the company has a critical role for the Mexican Mar 28, 2019 · Moreover, Moody´s reaffirmed the sovereign rating of Mexico (A3, 2 ratings above Fitch). Ratings agency Standard & Poor’s (S&P) on Monday slashed the credit rating for Mexico’s national oil company Petróleos Mexicanos (Pemex), piling more pressure on the government to Oct 24, 2014 · currency long-term corporate credit rating on Petroleos Mexicanos (PEMEX) and on the Pemex Project Funding Master Trust to 'BBB' from 'BBB-'. PEMEX remains financially vulnerable and its Environmental, Dec 17, 2024 · Additionally, Fitch has affirmed the rating of approximately USD80 billion of PEMEX's international notes outstanding at 'B+' with a Recovery Rating of 'RR4'. 由于此网站的设置，我们无法提供该页面的具体描述。 Issue Information International bonds Pemex, 6. 9, 2025--S&P Global Ratings continues to view the regulatory frameworks for Latin American electric utilities as supportive, because they allow for timely recovery of operating costs and capital. This article includes reporting from The Associated Nov 25, 2024 · Mexican President Claudia Sheinbaum said on Wednesday that she expects state oil firm Pemex's (PEMX. Special Report / Wed 16 Aug, 2023. How relevant are E, S and G issues to the overall credit rating? 5: Highly relevant, a key rating driver that has a significant impact on the rating on an individual basis. -based Deer Park Refining L. ) (EU Exit) Regulations 2019, as Nov 25, 2015 · PEMEX's Baa1 ratings reflect the impact of Moody's joint-default analysis, which include assumptions of very high support from the government of Mexico (A3 stable) and very high dependence between PEMEX and the government. While certain of the NRSRO's credit rating subsidiaries are listed on Item 3 of Form NRSRO and as such are authorized to issue credit ratings on Jun 7, 2024 · During a press conference following the announcement of the election results, Renzo Merino, Moody’s Analyst, detailed that among the relevant topics to consider regarding Mexico's credit outlook are how it will address the fiscal deterioration inherited from the outgoing government and the financial management of PEMEX. pursuant to the terms of the EU CRA Regulation or the UK Credit Rating Agencies (Amendment etc. Global-scale credit rating(s) issued by S&P Global Ratings' affiliates based in 由于此网站的设置，我们无法提供该页面的具体描述。 Mar 4, 2019 · Pemex’s credit rating outlook chopped by Standard & Poor’s A sign to commemorate the 80th anniversary of the founding of state-owned enterprise Pemex is seen on the facade of its headquarters Apr 15, 2020 · Pemex Support A Sovereign Risk if it Drives Deficit, Debt Higher. Mar 8, 2023 · In 2020, Fitch Ratings and Moody's Investors Service became the first two major ratings agencies to strip Pemex of its investment grade status, with the latter pushing it deeper into speculative Mar 6, 2024 · Continued support for Pemex (B+/Stable), the state-owned petroleum company, remains a further challenge for the sovereign. 2 27 July 2023 Petroleos Mexicanos: FAQ on operations, liquidity and sovereign support for Mexico's national oil company Source: PEMEX financial statements, Moody's Investors Service 0 200 400 600 800 1,000 1,200 1,400 Barrels/day (thosands) Maya crude Isthmus crude Fuel oil Jul 24, 2020 · Mexico credit rating at risk if Pemex, CFE debt keeps rising: S&P. 16-Dec-2024 B+ Affirmed Long Term Rating RR4 40% Rating History. With $106 billion in financial debt, PEMEX 'BBB' Foreign Currency Rating Affirmed, In Line With Affirmation Of Sovereign Rating; Outlook Remains Negative. for regulatory purposes, pursuant to the terms of the EU CRA Regulation or the UK Credit Rating Agencies Fitch Ratings affirms Pemex at "B+" (LT Int. 50% 24feb2025, EUR. 0% in 2023 GDP) has facilitated a decline in Pemex's debt, which reached USD106 billion in 3Q23, down from its peak of USD113 billion in 2020. ” Sep 15, 2022 · periodic update on a credit rating and related analyses. The moderate linkage between PEMEX’s ratings and Mar 28, 2019 · Moreover, Moody´s reaffirmed the sovereign rating of Mexico (A3, 2 ratings above Fitch). With regard to today’s announcement in which Moody's Investors Service confirms a lower credit rating for Pemex, which had been anticipated last August 25, Petróleos Mexicanos states the following: Oct 12, 2023 · Moody’s, another ratings agency, mentioned it as a factor in its decision in 2022 to downgrade Mexico’s rating. 'B+' Issuer Credit Rating Affirmed, Outlook Stable; Two EETC Ratings Raised. Fitch’s international credit ratings produced outside the EU or the UK, as the case may be, are endorsed for use by regulated entities within the EU or the UK, respectively, for regulatory purposes, pursuant to the terms of the EU CRA Regulation or the UK Credit Rating Agencies (Amendment etc. 35% bond/note 12-Feb-2028. This analysis provides 5 notches of uplift to PEMEX's ba3 BCA. We forecast a pretax and net loss that is less than in Sep 16, 2022 · Related Content: What Investors Want to Know: PEMEX (What Will It Take to Move the Rating) Fitch Ratings-New York-16 September 2022: Petroleos Mexicanos (PEMEX) has failed to leverage elevated oil prices to strengthen itself and evolve into a sustainable, reliable energy company due to a stubbornly high government take, according to a new Fitch Ratings Aug 16, 2023 · Related Content: How Pemex Impacts Mexico’s Sovereign Rating (Pemex Refinancing Support a Sovereign Risk if it Drives Fiscal Deterioration) Fitch Ratings-New York-16 August 2023: Fitch Ratings’ base case is that the Mexican government will continue to financially support Pemex, but not outright guarantee the company’s debt or provide a capital injection Sep 11, 2023 · Andrés Manuel López Obrador has given Pemex about 1. Accumulating a staggering US$106 billion in debt, the NOC 由于此网站的设置，我们无法提供该页面的具体描述。 Jul 31, 2023 · Moody’s downgraded Pemex’s rating in July 2021 and 2022 and has justified its downgrades on Pemex’s high liquidity risk and growing business risk, while the company faces high debt maturities and expands its refining and production capacity, a strategy that, according to the agency, will generate more operating losses in the short and Jun 15, 2021 · Mexico and Pemex credit rating 5-year CDS and S&P Global credit rating Basis points in vertical axis, credit rating in horizontal axis Source: Banorte with data from Fitch, S&P Global Ratings and Moody’s Source: Banorte with data from Bloomberg and S&P Global Ratings . By telephone from the United States: Dial 1-866-330-MDYS (1-866-330-6397) By telephone from outside the United States: Dial the AT&T Direct Dial Access® code for your location. Japan Credit Rating Agency note released on 25 March 2024 PDF - 432. Jul 29, 2021 · Moody’s Downgrades PEMEX. PEMEX’s Stable Deer Park Refining L. S&P downgraded Mexico’s credit rating on Thursday as the Mar 26, 2020 · Signs Of Increased Political Interference In Latin American Electric Utility Regulatory Framework, Says Report. com. Fitch’s approach to endorsement in the Jul 18, 2024 · Endorsement Policy. for regulatory purposes, pursuant to the terms of the EU CRA Regulation or the UK Credit Rating Feb 9, 2023 · In an effort to tackle its US$6 billion due debt payments for 1Q23, PEMEX placed bonds worth US$2 billion to refinance the endeavor. Regarding Pemex, Moody´s changed the outlook from stable to negative. BOSTON (S&P Global Ratings) Jan. The foreign currency credit rating on PEMEX is two notches above the company's stand-alone credit profile (SACP). Nov 19, 2013 · Our foreign currency issuer credit rating on PEMEX remains at the same level as the sovereign foreign currency rating on Mexico. 由于此网站的设置，我们无法提供该页面的具体描述。 Aug 11, 2023 · most updated credit rating action information and rating history. The company maintains a CCC- standalone credit profile. Credit rating agency Moody’s has once again downgraded PEMEX’s credit rating from Ba2 to Ba3, with a negative outlook. Nov 13, 2023 · Mexico City — The Mexican government’s support for Petróleos Mexicanos Pemex (rated BBB) is unsustainable in the medium and long term, said Omar de la Torre, director and head analyst at credit rating agency S&P Global Ratings, in an interview with Bloomberg Línea. Japan Credit Rating Agency note released on 22 June 2023 PDF - 321. . Gulf Coast that operates as a tolling facility for its 50%/50% joint venture parents, Royal Dutch Shell PLC (RDS)subsidiary Shell Oil Co. Jan 12, 2025 · Moody's Investors Service cut Pemex's credit rating to B1 from Ba3, or four notches into the agency's speculative status, reflecting a higher risk of default for the company formally known as Apr 15, 2024 · Mexico's relationship with state-owned oil giant Pemex will remain a fiscal challenge for the country's next presidential administration. faces much higher fuel costs in 2022, though we believe it will likely be able to raise its fares to cover most--though not all--of this added expense. PEMEX's Jul 7, 2022 · In addition, we affirmed our national scale 'mxAAA/mxA-1+' issuer credit ratings on PEMEX, and the national scale outlook remains stable. Then, at the prompt, dial 866-330-MDYS (866-330-6397) Standard & Poor's credit rating for Mexico stands at BBB with stable outlook. Mar 25, 2022 · PEMEX's Stable Rating Outlook mirrors Mexico's sovereign Outlook. We estimate the banking system's direct credit exposure to PEMEX and CFE was approximately 28% of system's common equity Tier 1 capital (CET1) as of 1Q23. Then, at the prompt, dial 866-330-MDYS (866-330-6397) Nov 4, 2016 · PEMEX’s business plan shows commitment to improve operating and financial results but execution risk is high PEMEX 2016-2021 Business Plan On November 3, 2016, Petroleos Mexicanos (PEMEX, Baa3 negative) announced a business uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable Sep 21, 2024 · Petroleos Mexicanos (PEMEX) Entity with Fitch Analyst Adjusted Financials as featured on Fitch Ratings. Moody's Ratings publishes credit ratings and provides assessment services on a wide range of debt obligations, programs and facilities, and the entities that Feb 12, 2024 · Moody's Investor Service recently downgraded PEMEX’s credit rating from B1 to B3, signaling heightened credit risk for the state-owned oil company. ) (EU Exit) Regulations 2019, as the case may be. Mar 9, 2019 · 291. At the same time, the outlook was modified from stable to negative, setting an 18-month time frame for a potential revision of the rating. Mexico's sovereign Dec 17, 2024 · PEMEX, Mexico's state oil and gas company, is the nation's largest company and ranks among the world's largest vertically integrated petroleum enterprises. This downgrade is expected to limit PEMEX's access to additional credit and Dec 21, 2023 · Fitch Ratings - New York - 20 Dec 2023: Fitch Ratings has affirmed Petroleos Mexicanos' (Pemex) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at Oct 21, 2024 · Fitch Ratings affirmed the 'B+' LT Int. In accordance with our criteria for government-related entities (GREs), our Aug 23, 2023 · Banks’ meaningful exposure to GREs such as PEMEX and CFE is also a ratings constraint. 5 billion by the second quarter, said Friday that it received 64. This downgrade, reflecting Mar 4, 2019 · Moody’s Investor Service has also said that its outlook for Mexico is under severe pressure because of debt and problems at Pemex. Credit Ratings, Research and Analysis for the global capital markets. By Anthony Esposito and Abraham Gonzalez. In addition, Moody's estimates that PEMEX will have substantial negative free cash flow in the next 12-18 months, driven by insufficient operating cash generation to pay interest expenses, taxes, and capital spending. This is the lowest rating in the investment grade category and is considered to be “junk” status. (Petrobras) Entity with Fitch Analyst Adjusted Financials as featured on Fitch Ratings. Company Sep 16, 2022 · The three-notch gap between the company’s credit rating and that of Mexico (BBB–/Stable) reflects limited visibility surrounding PEMEX’s long-term financial health and the unpredictable ad hoc support it receives from the government. The stable outlook on PEMEX's ratings is based on Moody's expectation that the company's business strategy Aug 17, 2023 · Fitch also downgraded around USD80 billion of PEMEX’s international notes outstanding to ‘B+’/‘RR4’ and placed the notes on RWN. Jul 7, 2022 · S&P Global Ratings revised on Wednesday the outlook for Mexico's state-oil firm Pemex to stable from negative, after it reviewed Mexico's long-term outlook. In this context, CABEI holds the best credit rating in Latin America, distinguishing itself as a Apr 14, 2022 · Fitch estimates PEMEX’s FCF will average approximately negative USD11 billion per year from 2023 through 2025, as the company seeks to increase capex to revert the historical production decline rate. Nov 9, 2023 · Between 2024 through 2027, Pemex is projected to burn USD60 billion of cash (USD15 billion per year) and faces USD21. The decision was reportedly based on the NOC’s “high liquidity risk”. We maintain our assessment of an almost certain likelihood of extraordinary government support to Petroleos Mexicanos (PEMEX) under a scenario of financial distress, although the sovereign doesn't guarantee the company's debt. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Mexico thus having a big Feb 13, 2024 · PEMEX bonds took a hit after Moody’s Investors Service downgraded the company's credit rating. The company is not likely to be upgraded in the near-term. 9 billion pesos ($3. This downgrade is expected to limit PEMEX's access to additional credit and concessions, placing further strain on its liquidity. PEMEX's credit rating is largely supported by the financial support it receives from the federal government. United Airlines Holdings Inc. Dec 21, 2023 · Pemex's ratings are four notches below the sovereign, which is a variation of Fitch's GRE criteria, explained by Fitch's view that Pemex remains financially vulnerable and its ESG track record further impairs its ability to raise capital. Share. P. 5 billion of debt maturing between 2025-2027. Rating and Investment Information Dec 28, 2024 · Despite a 56. This downgrade mirrors PEMEX's mounting debt and stagnant production levels, reflecting the company's deteriorating financial outlook. Moody’s in February cast 由于此网站的设置，我们无法提供该页面的具体描述。 Jan 4, 2023 · In March 2019, Moody’s released an evaluation of the financial standing of Pemex. were also raised to 'BBB' from 'BBB-'. mx NSR BACKED Senior Unsecured -Dom Curr PEMEX is a fully integrated company with operations in oil and gas exploration and production, refining, distribution and retail marketing, pipelines and petrochemicals. Since 2021, when the agency downgraded Pemex’s rating to a level considered junk bond status, Mexican authorities criticized the agency, starting with the company’s CEO, Octavio Romero Oropeza. Scale (local curr. The outlook is stable. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of El Salvador thus having a big impact on the country's borrowing costs. ) credit rating); outlook stable: 17/12/2024: Fitch Affirms PEMEX's IDRs at 'B+'; Outlook Stable (Rating action commentary) 21/10/2024: Mexico Moves to Amend Constitution to Favor State Power Firm: 19/06/2024: PEMEX Light Crude Production on the Rise Jul 17, 2023 · Fitch Ratings recently downgraded PEMEX's credit rating and ESG score, citing weak operating performance and upcoming debt maturities in 2023. owns a 340,000-barrel-per-day refinery on the U. ethicspoint. Overall, Pemex will need USD81. Issue Information International bonds Pemex, 5. May 19, 2023 · HR Ratings has upgraded PEMEX’s rating to AAA, with a stable investment perspective. We assume that WTI oil prices will average $65/bbl and $60/bbl in 2023 and 2024 respectively; the Mexican mix usually trades at about $5/bbl below WTI. Credit rating agencies like Moody's have expressed concerns over the potential risks associated with PEMEX’s diversification plans, particularly its venture into renewable energy. MEX GAS SUPPLY is the trading arm for international natural gas purchases and U. 'BBB+' Corporate Credit Rating Affirmed; Outlook Stable U. Key Rating Drivers. A downgrade of the government's rating could lead to a downgrade of Pemex's ratings. Scale (foreign curr. Country: Mexico How relevant are E, S Apr 18, 2024 · “Pemex will require ongoing government support for the foreseeable future,” said Andrew De Luca, emerging markets credit analyst at Pemex bondholder T Rowe Price. Jul 14, 2023 · Fitch Ratings, a global credit rating agency, downgraded Pemex’s long-term foreign currency issuer default rating from BBB- to BB+. 8 billion) from the government to Sep 3, 2021 · The moderate linkage between PEMEX’s ratings and those of the sovereign reflects the delay and uncertainty of significant support from the government due to PEMEX’s financial difficulties resulting from high taxes. ) credit rating); outlook stable: 17/12/2024: Fitch Affirms PEMEX's IDRs at 'B+'; Outlook Stable (Rating action commentary) 21/10/2024: Mexico Moves to Amend Constitution to Favor State Power Firm: 19/06/2024: PEMEX Light Crude Production on the Rise Dec 31, 2024 · S&P Global Ratings on Friday kept the credit rating of Petroleos Mexicanos (Pemex) unchanged after it confirmed the investment grade rating of Mexico's government, which serves as the benchmark Jul 6, 2021 · Pemex credit rating is founded on the de facto sovereign status of its debt, due to the support received from the federal government through actions and capital contributions, and due to the relevance of the State-owned Productive Enterprise (SPE) as a major generator of revenue for the country. As such, we rate Pemex and CFE at the same level as the sovereign, despite their weak stand-alone credit profiles. We also affirmed our 'BBB' foreign Jul 29, 2022 · PEMEX's B1 rating takes into consideration Moody's joint default analysis, which includes the rating agency's assumptions of very high government support in case of need and Fitch Ratings affirms Pemex at "B+" (LT Int. 22 KB. Via the Internet: https://Moodys. While certain of the NRSRO's credit rating subsidiaries are listed on Item 3 of Form NRSRO and as 5 days ago · Note: Moody’s Corporation is comprised of separate divisions. 482 bln 5. (SOC) and Petroleos Mexica 4 days ago · Petroleo Brasileiro S. It is important to point out that despite Fitch´s Nov 13, 2024 · Moody's - credit ratings, research, and data for global capital markets Jun 29, 2021 · Moody’s said that its Ba2 credit rating for Pemex, as the company is known, includes the assumption of “very high government support in case of need and very high default correlation between Pemex and the government of Mexico. Entrepreneurs Tech Talent Energy Oil & Gas Mining Health Automotive Aerospace Finance & Fintech Infrastructure Professional Services E-Commerce & Retail Dec 8, 2021 · Rating Action: Moody's assigns Ba3 rating to PEMEX's proposed notesGlobal Credit Research - 07 Dec 2021New York, December 07, 2021 -- Moody's Investors Service (Moody's) assigned a Ba3 senior 由于此网站的设置，我们无法提供该页面的具体描述。 Mar 28, 2020 · The ratings agency cut Mexico’s sovereign rating to BBB from BBB+, and downgraded Pemex’s stand-alone credit profile to ccc+ from b-. The senior unsecured foreign currency ratings assigned to the issues by PEMEX, Pemex Project Funding Master Trust, and RepConLux S. The national elections in June encompass the presidency and both chambers of Congress, and the new government's fiscal policy path will be key to sovereign creditworthiness. 5 billion (USD20 billion per year, 1. mx PEMEX is a fully integrated company with operations in oil and gas exploration and production, refining, distribution and retail marketing, pipelines and petrochemicals. Our Categories. We now expect Moody’s update, currently with a rating of ‘Baa1’ and a negative outlook. We assume the next administration will continue to back these entities' debt payments regardless of any changes in the contour of energy policy. Both agencies recognize as strengths Mexico´s broad and diversified economy, a sound fiscal stance and macroeconomic stability, caution in formulating macroeconomic policies, as well as a sound banking system, among others. 32tn pesos of financial help since taking office in credit rating agency concerns of the government being more reactive than proactive Dec 8, 2023 · The government support to Pemex through this administration (a cumulative USD74 billion since 2019, 4. Since Jun 6, 2019 · Regarding Pemex, Moody´s changed the outlook from stable to negative. A better credit rating prospect generates a greater certainty in the compliance with financial commitments of the company, as well as a greater confidence in both current and potential projects that involve a partner. 35% 12feb2048, USD. Both S&P Global Ratings and Moody's have lowered Pemex's credit outlook to negative from stable. A Mexican government energy policy that gives more weight to state oil company Pemex Sep 23, 2024 · Moody's - credit ratings, research, and data for global capital markets Dec 5, 2024 · Moody's Integrity Hotline. Leading presidential contenders are the The main international credit rating agencies have recognized CABEI's importance as a provider of long-term resources for the region, its solid financial position, its preferred creditor status and the continuous support of its member countries. Jan 18, 2024 · PEMEX’s ratings are four notches below the sovereign due to Fitch’s Government-Related Entities Rating Criteria. The recent affair over the $500m means Pemex will need more financial support Mar 13, 2024 · empty Rating Outlook Last Update; Long-Term Global: BBB-Stable: March 13, 2024: Long-Term National: mxAA+: Short-Term National: mxA-1+ 4 days ago · Ratings agency Standard & Poor's (S&P) on Monday slashed the credit rating for Mexico's national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the Dec 5, 2024 · Moody's Integrity Hotline. It also mentioned the possibility that the government will have to transfer more money to shore up the highly indebted state-owned oil company, Pemex . ) credit rating); outlook stable 17/12/2024 Fitch Affirms PEMEX's IDRs at 'B+'; Outlook Stable (Rating action commentary) Oct 4, 2023 · In an interview with Bloomberg Línea, Moody’s analyst Roxana Muñoz stated that Pemex needs stronger metrics than its current ones in order to improve its credit rating Jul 17, 2023 · Fitch Ratings recently downgraded PEMEX's credit rating and ESG score, citing weak operating performance and upcoming debt maturities in 2023. Dec 5, 2024 · Moody's Integrity Hotline. This means that PEMEX’s current business model does not provide enough profit in the short to medium term to cover Sep 6, 2023 · 由于此网站的设置，我们无法提供该页面的具体描述。 Moody’s Downgrades Pemex Rating Amid Credit Quality Concerns . 5 percent year-on-year rise in its revenue, the NOC reported a MX$52 billion (US$2. Pemex’s debt, equivalent to almost 6% of GDP, remains a material contingent liability for the sovereign. DBRS' credit rating for Mexico was last reported at BBB with stable outlook. 0 50 100 150 200 0 2 4 6 8 10 12 14 France South Korea Japan Belgium Nov 5, 2024 · PEMEX CEO Víctor Rodríguez also discussed opening up exploration and production to private investment. Then, at the prompt, dial 866-330-MDYS (866-330-6397) Pemex statement to Moody’s credit rating revision. 由于此网站的设置，我们无法提供该页面的具体描述。 Nov 16, 2024 · Meanwhile, Moody's mentioned the possibility that the Mexican government will have to transfer more money to support highly indebted Pemex. U. ) credit rating of Pemex to "B+" 17/07/2023 Nov 15, 2024 · MEXICO CITY, Nov 14 (Reuters) - Mexico's outlook was moved to negative from stable by Moody's Ratings on Thursday, as the major credit rating agency pointed to institutional and policy weakening Nov 23, 2019 · S&P in March slashed the credit rating for Pemex, the world’s most indebted oil company, to B- from BB-. UL) debt to suppliers to be paid off in March. The downgrade was due to the fatal platform blast, which has raised concerns about Pemex’s safety and Mar 5, 2019 · The peso currency dipped as much as 0. Sources: Pemex fillings, Moody's Financial MetricsTM and Moody's Investors Service forecasts Oct 24, 2014 · Category Moody's Rating Outlook Stable Issuer Rating Baa1 Senior Unsecured Baa1 NSR Senior Unsecured -Dom Curr Aaa. To the extent that regulatory authorities allow a rating agency to acknowledge in one jurisdiction a rating issued in another jurisdiction for certain regulatory purposes, S&P reserves the right to assign, withdraw or suspend such acknowledgment at any time and in its sole discretion. This grade is a reflection of the firm's expectations regarding anticipated government support for the NOC. Another measure that considers government dependence, which Moody’s calls the Baseline Credit Assessment, was cut to ca from caa3, indicating the company would be highly likely to default without Fitch Ratings affirms Pemex at "B+" (LT Int. The downgrades reflect PEMEX’s continued weak operating performance, resulting in Fitch lowering several of the company’s Environmental, Social and Governance (ESG) Relevance Scores to ‘5’.