August 16, 2019 / 12:51 PM / a month ago

Mexican government will keep investing in Pemex - president

MEXICO CITY, Aug 16 (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Friday that his government would keep investing in troubled state oil company Pemex, which is on the verge of losing its investment grade rating.

Fitch Ratings downgraded roughly $80 billion of bonds to speculative grade - or “junk” status - with a second downgrade seen coming soon from Moody’s. This could cripple the president’s energy agenda and imperil Mexico’s creditworthiness. (Reporting by Stefanie Eschenbacher Editing by Chizu Nomiyama)

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