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Stefanie Eschenbacher

Why bond investors are willing to bet on money-losing Pemex after oil price crash

22 May 2020

MEXICO CITY/NEW YORK Mexico's state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.

Bond investors batter bloodied Pemex with no relief in sight

01 May 2020

MEXICO CITY/NEW YORK Since Petroleos Mexicanos lost its coveted investment grade rating earlier this month, bond investors have punished the Mexican state oil company, with no clear sign of how the government plans to turn its fortunes around.

Pemex joins crowded high yield market as investors flee risk

23 Apr 2020

MEXICO CITY Mexican national oil company Petroleos Mexicanos joins a crowded high yield bond market as the largest fallen angel in history, just as investors have been eschewing risk and seeking stable assets to ride out the novel coronavirus pandemic.

Pemex joins crowded high yield market as investors flee risk

23 Apr 2020

MEXICO CITY, April 22 Mexican national oil company Petroleos Mexicanos joins a crowded high yield bond market as the largest fallen angel in history, just as investors have been eschewing risk and seeking stable assets to ride out the novel coronavirus pandemic.

Moody's becomes second ratings agency to downgrade Pemex to 'junk'

18 Apr 2020

MEXICO CITY In a blow to Mexican President Andres Manuel Lopez Obrador, ratings agency Moody's Investors Service on Friday became the second main ratings agency to downgrade national oil company Petroleos Mexicanos to speculative grade, or junk, status.

Pemex debt slashed to junk as Moody's downgrades battered Mexico oil company

18 Apr 2020

MEXICO CITY Ratings agency Moody's on Friday downgraded Mexico's credit rating due to a deteriorating economic outlook and cut the debt of state oil firm Pemex to junk status, dealing a serious blow to President Andres Manuel Lopez Obrador.

Fitch cuts Mexico rating to one notch above 'junk'

16 Apr 2020

MEXICO CITY Fitch Ratings on Wednesday downgraded Mexico's sovereign rating to one notch above speculative grade on fears that the economic shock caused by the novel coronavirus will cause a "severe recession" in Latin America's second-largest economy this year.

Mexico's Pemex slides deeper into 'junk'

04 Apr 2020

Mexican national oil company on Friday slid deeper into "junk" territory after Fitch Ratings cut the rating of its bonds by another notch to BB with a negative outlook amid fears that its stand-alone credit profile will deteriorate further.

UPDATE 2-Mexico's Pemex slides deeper into 'junk'

04 Apr 2020

April 3 Mexican national oil company on Friday slid deeper into "junk" territory after Fitch Ratings cut the rating of its bonds by another notch to BB with a negative outlook amid fears that its stand-alone credit profile will deteriorate further.

With obesity and diabetes epidemic, Mexico braces for coronavirus

27 Mar 2020

MEXICO CITYFour of the six people who have died from coronavirus in Mexico so far had diabetes, raising alarm bells that a country with one of the world's highest rates of the condition may be more vulnerable than its relatively young average age might suggest.

World News