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

Bernardo de la Garza, Lisa Schineller and Luis Madrazo Lajous

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.