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Fitch Rates Pemex's CHF600 Million Issuance 'BBB+' (Fitch Inc)

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(Source: Fitch Inc) 25 Nov 2015 12:56 PM EST Fitch Ratings-Chicago-25 November 2015: Fitch Ratings has assigned a 'BBB+' Long-term Rating to Petroleos Mexicanos' (Pemex) CHF600 million sr. unsecured debt issuance. The company expects to use the proceeds from the issuances to finance its capital investments. The debt issuances are guaranteed by Pemex Exploracion y Produccion; Pemex Cogeneracion y Servicios; Pemex Perforacion y Servicios; Pemex Logistica; Pemex Transformacion Industrial and their respective successors. KEY RATING DRIVERS Pemex's ratings reflect its close linkage to the government of Mexico and the company's fiscal importance to the sovereign. Pemex's ratings also reflect the...

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