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Moody’s Changes Outlook on Pemex’s Ratings from Negative to Stable

  • The rating of Petróleos Mexicanos’ debt is based on the extensive proved hydrocarbon reserves, its production platform, and its importance for the Mexican energy industry
  • The farm-outs, strategic partnerships, and successful tenders Pemex is currently participating in will generate weighty results for the company

Moody’s rating agency raised the credit rating outlook of Petróleos Mexicanos and changed it from negative to stable. It further affirmed the company’s long-term national and global scale ratings as, respectively. This is consistent with the changes in the outlook of the Mexican national rating (A3) with a stable outlook, which was announced yesterday.

The agency acknowledged that Pemex’s needs for liquid funds have reduced over the past few years, due to its austerity measures in expenditure and debt refinancing.

Pemex’s debt ratings are based on its large proved hydrocarbon reserves, crude oil and natural gas production during 2017, as well as its operations, which are integrated throughout the value chain of the energy industry in Mexico.

Furthermore, Petróleos Mexicanos stands out as one of the most important crude oil exporters to the United States.

Moody’s recognized that Pemex’s finances are currently stable and considers that the Energy Reform is having a favorable impact for the company, as it has opened Pemex to garner a number of blocks in recent auctions, perform farm-outs and participate in strategic partnerships that will gradually generate significant results.

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Última modificación 13/04/2018 17:46 Pemex