LatinNews Regional Monitor: Mexico - 5 March 2019

* Credit ratings agency Standard & Poor’s (S&P) has downgraded its outlook of several Mexican companies and financial institutions from 'stable' to 'negative', including state-owned electricity company Comisión Federal de Electricidad (CFE), and state-owned oil company Pemex. S&P cited CFE’s “integral link” with the Mexican government, which is the company’s sole owner, as the reason for its downgrade to negative, to match the level of the sovereign credit outlook. Last week S&P downgraded the Mexico's outlook to negative. Pemex’s outlook was downgraded for the same reason, amid concerns that the government’s promised financial support will be insufficient to prop up the highly indebted oil company’s operations.       

End of preview - This article contains approximately 113 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial