S&P affirms Pemex

Standard & Poor's said it affirmed the BBB foreign-currency and A- local-currency ratings on Petroleos Mexicanos (Pemex) as well as its mxAAA/mxA-1+ national scale ratings.

The outlook remains stable.

The ratings on Pemex reflect the opinion that there is an almost certain likelihood that the Mexican government would provide timely and sufficient extraordinary support to Pemex in the event of financial distress, the agency said.

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