Ratings agency Moody’s says govt support for Pemex could hurt Mexico’s credit rating Leave a comment

MEXICO CITY, July 28 (Reuters) – Ratings agency Moody’s on Wednesday said government help for Mexican state oil company Pemex, currently equivalent to around 1% of the country’s gross domestic product (GDP), may weigh on Mexico’s sovereign credit rating if Pemex needs further aid.

Moody’s, which downgraded Pemex one notch to “Ba3” on Tuesday, said in a conference call with media that the government’s support for Pemex will remain strong. (Reporting by Adriana Barrera; Writing by Drazen Jorgic Editing by Cassandra Garrison)

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