Pemex Issues US$445mn, 15-yr Bonds

Mexico's state oil company Pemex issued 5bn pesos (US$445mn) worth of 15-year bonds on the Mexico City market on December 23, Fitch analyst Sergio Rodríguez told BNamericas.

In a ratings note before the issue, Fitch assigned its AAA(mex) local scale rating to the issue. The outlook is stable.

Fitch bases its rating on Pemex's solid pre-tax financial profile, good proven hydrocarbon reserve level and its export potential. Credit ratings agency Standard and Poor's assigned its mxAAA rating to the issue.

Pemex executives were not available for comment.

To read Fitch's full report on Pemex, paste the following link into your browser: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=62646&Tx_idioma=E .

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