Mexico and Pemex close to further downgrades, say rating agencies at LL conference

The chances Mexico and Pemex – the most indebted oil company in the world – will avoid further downgrades are small, said S&P and Moody’s representatives at Latin Lawyer - GRR Live 4th Annual Restructuring Conference, held earlier this month in New York.

Mexico and Pemex close to further downgrades, say rating agencies at LL conference Bernardo de la Garza, Lisa Schineller and Luis Madrazo Lajous

In June, Fitch downgraded Mexico’s sovereign debt to near junk status. Behind the decision was Pemex’s US$106 billion debt pile and the dire financial outlook for the deteriorating state-owned company. The two other major credit agencies are heading the same way.

Related content

In this article

These firms have professional notices in the Latin Lawyer 250

Events

Events

Latin Lawyer Live 10th Annual Private Equity

Events

Latin Lawyer Live 6th Annual Labour & Employment

Insight

Reference

Sy83a16n1gvzfafpg07v

Construction

Chile

Alfonso Reymond Larraín and Rodrigo Riquelme Yanez

Reymond & Cía

Brazil

Fernando Marcondes, Ricardo Medina Salla, Marlon Shigueru Ushiro Ieiri, Adriana Regina Sarra de Deus and Juliana Yumi Shiina Morato

LO Baptista

All Reference

Guides

Ogmha8wxmyjxj2opobts

The Guide to Infrastructure and Energy Investment

How to Build Up a Region: Development Banks and Multilateral Financing

Thomas Hechl and Vanessa Pinto Villa

Hogan Lovells LLP

The Role of Project Finance in Developing a Region: Trends and Considerations

Andrés Arnaldos Montaner , Daniel D Bartfeld , Jaime E Ramirez and Roland Estevez

Milbank, Tweed, Hadley & McCloy LLP
All Guides