Pemex takes brunt of Mexico’s dual downgrade

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Pemex takes brunt of Mexico’s dual downgrade

Mexico, flag, storm, turbulence, LatAm
Flag with torn edges in front of a stormy sky | brumbyderek - stock.adobe.com

Spreads on dollar bonds issued by Mexican state-owned oil company Pemex ballooned by up to 50bp on Thursday as a sovereign downgrade led the company to lose one of its investment grade ratings and threatened a second.

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