Fitch Downgrades Pemex Bonds, Sees Production Falling for 3-5 Years

Fitch Ratings on Tuesday lowered by two notches the long-term foreign and local-currency issuer default ratings (IDRs) for Mexican national oil company Petróleos Mexicanos (Pemex) to ‘BBB-‘ from ‘BBB+’, and downgraded Pemex’s national long-term ratings to ‘AA (mex)’ from ‘AAA (mex)’, with a negative rating outlook. Read More