Published On: Sat, Apr 13th, 2019

No further cut to Pemex credit rating expected: Mexico minister

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FILE PHOTO: Mexico's Finance Minister Carlos Urzua listens as President Andres Manuel Lopez Obrador speaks to the media during a news conference to announce a plan to strengthen finances of state oil firm Pemex, in Mexico City
FILE PHOTO: Mexico’s Finance Minister Carlos Urzua listens as President Andres Manuel Lopez Obrador (not pictured) speaks to the media during a news conference to announce a plan to strengthen finances of state oil firm Pemex, at the National Palace in Mexico City, Mexico February 15, 2019. REUTERS/Henry Romero/File Photo

April 13, 2019

WASHINGTON (Reuters) – 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.

With $106 billion in financial debt, Pemex is the world’s most indebted oil company and is teetering on the brink of having its debt downgraded to junk.

(Reporting by Rodrigo Campos; Editing by Paul Simao)



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