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13 Articles
Given the weight of Pemex’s debt, the Mexican Ministry of Finance and Petroleum found an alternative way to obtain resources without resorting directly to a tax bailout: The placement of asset-backed investment instruments. This maneuver, known as “precapitalized notes”, has aroused interest because it uses sophisticated financial engineering schemes to attract capital without compromising the federal government’s sovereign guarantee.
In June 2019, Fitch Ratings was the first agency to degrade Pemex's debt at a speculative level and is now the first to open the door to recovery after the federal government announced a series of operations that will allow the company to have resources to meet its operational and financial needs at least this and the following year.
Read time approx.: 2 minutes, 55 secondsClaudia Villegas and María Luisa Aguilar Magazine Fortuna The financial operation presented this week by the Ministry of Finance and Public Credit (SHCP) represents a respite for Mexican Oils (Pemex) in the midst of its critical financial situation. Through a complex financial structure designed to avoid greater debt pressures, the Mexican state oil company will access liquidity in dollars without registe…
Fitch Ratings opened the door to a possible credit improvement for Pemex . The qualifier placed in positive observation the note of the oil company, currently in 'B+', after the announcement of a new transaction of management of liabilities for 9,500 million dollars. This represents a relevant turn in the support of the federal government , an element that can reconfigure the relationship between Pemex and the Mexican sovereign in the eyes of th…
The Mexican government's aid to the state-owned company Petróleos Mexicanos (Pemex) does not cover all short-term financial and operational liabilities, S&P Global said.See more: Fitch reviews possible improvement in Pemex's rating after government aid announcement“While the announced transaction seeks to reduce immediate financial debt pressures, this financial aid does not cover all of Pemex's short-term financial and operational liabilities,”…
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