25.08.2015 22:31:00

Petroleos Mexicanos -- Moody's places PEMEX's A3 ratings under review for downgrade

New York, August 25, 2015 -- Moody's Investors Service placed Petroleos Mexicano's (PEMEX) global foreign currency and global local currency A3 ratings under review for downgrade. The review was prompted by the company's weak cash generation and financial profile so far in 2015 and Moody's view of further deterioration in the next years. Cash generation has weakened due to lower oil prices and will result in large borrowing needs in the near future.

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