S&P affirms PMI Trading

Standard & Poor's said it affirmed the BBB foreign-currency and A- local-currency corporate credit ratings on PMI Trading Ltd. The company is an indirect wholly owned subsidiary of Petroleos Mexicanos (foreign currency BBB/stable; local currency: A-/stable).

The outlook is stable.

"Our ratings on PMI are based on our view of the company as integrated with Pemex," S&P analyst Fabiola Ortiz said in a statement.

Ratings are supported by PMI's indirect full ownership by Pemex, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.