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Local Debt Revival in Mexico Starts With $1.8 Billion Pemex Deal
13 Articles
13 Articles
Mexican Oils (Pemex) represents a significant burden on public finances and their financial needs hinder the reduction of the fiscal deficit, which is key to the country's credit assessment, Moody's Ratings said. "Continuous support for Pemex and lower growth could delay fiscal consolidation, increase debt indicators and exert more pressure on the sovereign credit profile," warned the qualifier in her report entitled "Supporting Pemex, T-MEC rev…
Pemex is the world's most indebted state oil company, with commitments accumulated of $84.5 billion.
All seems to indicate that the unpredicted officials of Mexican Oils forgot that it was important to preserve the strictly commercial condition of the oil company. The recent statements of the head of the Federal Executive, referring to her activity as a sovereign action, puts on the table the debate as to whether only the financial debt of the ruined oil company is national debt, or, if also, the debt of the suppliers and contractors, since it,…
The Mexican Government's support for the Mexican state-owned company Petróleos Mexicanos, known as Pemex, will continue to be necessary in the face of a negative cash flow and operational losses, said Moody’s agency, while the authorities expect the company to assume its financial obligations alone in 2027.See more: Reactivation of local debt in Mexico begins with the issuance of PemexMoody’s argued that the need for government support will cont…
The government’s continued financial support for Mexican Oils (Pemex), in addition to a low growth of the country’s economy, could put Mexico’s fiscal stability and credit profile at risk, considered the rating agency Moody’s Ratings. In a report presented this Thursday, the firm warned that the financial needs of the state oil company will complicate Mexico’s fiscal adjustment and impose pressure on the public debt. In the report “Government of…
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