Mexico … Fitch downgrades Pemex to 'BB+' following sovereign downgrade
- Fitch says rating action on Pemex follows Wednesday's downgrade of Mexico's sovereign foreign and local currency long-term IDRS to 'BBB' from BBB+'
- Says Pemex "continues to severely underinvest in its upstream business", which could lead to further production and reserves decline
Also:
- Fitch says its top rated Mexican corporates ratings unaffected by Mexico's sovereign rating downgrade
via Reuters
