Fitch upgrades Pemex rating to BB+
Fitch Ratings upgraded Petróleos Mexicanos’ (Pemex) long-term local and foreign currency issuer default ratings (IDRs) from ‘BB’ to ‘BB+’. The rating outlook is Stable.
The upgrade follows Pemex’s successful execution of a USD 9.9 billion public tender offer across eight bond series, financed with funds provided by the Mexican government.
Source: Fitch Ratings
