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Moody’s has reduced Mexican government-owned oil giant Pemex’s credit rating from A3 to Baa1 and kept the issuer on negative outlook, saying that the company’s weak credit metrics would deteriorate further in the near to medium term.

Tianjin Free Trade Zone Investment Holding Group (Tianjin FTZ) has picked seven banks to arrange its first international bond.

US regulator the Commodity Futures Trading Commission has proposed rules to increase oversight and risk controls for high speed electronic trading – and particularly the use of algorithms – in a bid to limit disruptions in the futures market.

CVC Capital Partners sold its last shares in Cerved, the Italian rating agency and credit information provider, on Monday night, in a block trade led by JP Morgan.

A new issuer joined the convertible market on Tuesday, when Aurelius, a specialist German private equity firm, issued a €166m bond with a 1% coupon and 30% conversion premium.

Argentina has been a pariah among international creditors for years, but its new, pro-business president may reopen the door to foreign investors — the question for derivatives players is how they can take part.

ArcelorMittal South Africa is seeking to raise R4.5bn ($321m) to improve its weakened financial position, with a rights issue fully underwritten by its parent, ArcelorMittal Group.

European Stability Mechanism rounded off its funding for the year in spectacular fashion on Tuesday. Not only did it double the size of its deal but it printed the longest ever bond from a supranational.

European Investment Bank has launched its first equity index-linked bond dedicated exclusively to renewable energy and energy efficiency projects as the Climate Bond Initiative begins a public consultation on a proposed standard for water bonds.

The European Union plans to raise over €6.1bn of funding to be lent to various sovereigns in 2016.

SKF, the Swedish ball bearing maker, won a €2.2bn order book today (Tuesday) for a €500m no-grow bond, issued to partly fund a tender offer for older notes.

Symrise, the German fragrances and ingredients supplier, has doubled the size of its Schuldschein issue after receiving strong demand from investors.