RIO DE JANEIRO, BRAZIL - S&P Global Ratings said on Thursday, December 10th, its next rating decision on the Mexican sovereign debt will depend on the evolution of the finances of the country’s heavily indebted national oil company Petroleos Mexicanos (PEMEX) and the government’s fiscal performance.
While PEMEX has long financed a substantial portion of the budget of Latin America’s second-largest economy, its debt burden is also weighing heavily on the country’s sovereign rating.
“Things we are looking for the next year is how is the government is going to manage Pemex finances and . . .
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