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Moody’s says Pemex debt makes it hard to recover investment grade – Metro US

Moody’s says Pemex debt makes it hard to recover investment grade

The Pemex logo is seen at its headquarters in Mexico
The Pemex logo is seen at its headquarters in Mexico City

(Reuters) – Mexican state oil company Pemex will have difficulty recovering an investment grade rating in the coming years owing to its large debt burden, a Moody’s analyst told reporters on Monday.

The ratings agency on Friday downgraded Pemex’s debt to junk status and cut Mexico’s credit rating due to a deteriorating economic outlook.

(Reporting by Stefanie Eschenbacher)

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