Obbligazioni valute high yield MESSICO, PEMEX e Obbligazioni in pesos (MXN) (1 Viewer)
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waltermasoni
Caribbean Trader
waltermasoni
Caribbean Trader
Fitch Rates Pemex's USD2B Issuance 'BBB+'
26 OCT 2018 05:07 PM ET
Fitch Ratings-Chicago-26 October 2018: Fitch Ratings has assigned a final rating of 'BBB+' to USD2 billion 6.5% senior unsecured notes due in 2029 issued by Petroleos Mexicanos (PEMEX). The assignment of the final ratings follows the receipt of documents conforming to information already received. The final ratings are the same as the expected rating assigned to these notes on Oct. 19, 2018.
PEMEX's ratings reflect the Mexican government's high incentives to support the company given the very strong socio-political and financial consequences that would result due to any financial distress at PEMEX. A financial distress scenario at PEMEX holds the potential to disrupt the supply of liquid fuels for the entire country, which could have material social and economic consequences for Mexico. Mexico is a net importer of liquid fuels, and PEMEX relies on the import for basic oil products, including dry gas, petroleum products and petrochemicals to supply local demand. Furthermore, a financial distress scenario at PEMEX may have implications for the government's or other Mexican Government Related Entities's (GREs) ability to raise financing.
26 OCT 2018 05:07 PM ET
Fitch Ratings-Chicago-26 October 2018: Fitch Ratings has assigned a final rating of 'BBB+' to USD2 billion 6.5% senior unsecured notes due in 2029 issued by Petroleos Mexicanos (PEMEX). The assignment of the final ratings follows the receipt of documents conforming to information already received. The final ratings are the same as the expected rating assigned to these notes on Oct. 19, 2018.
PEMEX's ratings reflect the Mexican government's high incentives to support the company given the very strong socio-political and financial consequences that would result due to any financial distress at PEMEX. A financial distress scenario at PEMEX holds the potential to disrupt the supply of liquid fuels for the entire country, which could have material social and economic consequences for Mexico. Mexico is a net importer of liquid fuels, and PEMEX relies on the import for basic oil products, including dry gas, petroleum products and petrochemicals to supply local demand. Furthermore, a financial distress scenario at PEMEX may have implications for the government's or other Mexican Government Related Entities's (GREs) ability to raise financing.
marcob77
Moderator
non ho ben capito il perchè...forse per questa questione dei migranti..
locco68
violaforever
Oct. 29 (UPI) -- Mexican state oil company Pemex crude oil production fell to 1.83 million barrels per day in the third quarter ended September, compared with 1.87 million barrels per day in the preceding three months, keeping a trend toward a decline that has been going on for several years.
According to the latest company earnings release, its total crude oil production was 1.827 million barrels per day. The company also reported that its refineries of Salina Cruz and Cadereyta increased their crude oil processing capacity by 94,000 barrels per day and 30,000 barrels per day, respectively.
According to the latest company earnings release, its total crude oil production was 1.827 million barrels per day. The company also reported that its refineries of Salina Cruz and Cadereyta increased their crude oil processing capacity by 94,000 barrels per day and 30,000 barrels per day, respectively.
Fabrib
Forumer storico
Utente Magician:
The announcement by Mexico President-elect Andres Manuel Lopez Obrador, known as AMLO, that he will be cancelling the planned construction of a new airport for Mexico City in the valley of Texcoco, was not what the markets wanted to hear. Much money has already been sunk into the airport project, which has issued bonds internationally to finance construction. In response, bond traders pushed yields on Mexico’s government bonds to their highest this decade relative to U.S. Treasuries.
Evidently, the market took this as a critical test of the fledgling administration. Sticking with the airport was seen as a sign of responsibility, continuity, commitment to growth and a willingness to follow through with commitments to international investors. It failed on all those points..
So there are risks and opportunities here. But I would suggest it is best to look at Mexico in conjunction with Latin America’s other powerhouse economy, Brazil. Both have markets with relatively small free floats, where foreign investors can have an outsized impact. As much money is invested through “Latin American” funds, or through emerging-market funds, there are many portfolio managers whose job is effectively to choose between the two. The result is extraordinary swings and overreactions, usually led by politics.
Generally, any emphatic market judgment on politics in one country is likely to be reversed within a year or two. Any judgment is also likely to have a wildly inflated impact on the price of assets in the two countries.
In Brazil, investors have convinced themselves that Jair Bolsonaro will be a market-friendly president, even though (unlike AMLO) he appears to have little interest in the economy, and set out his stall on a series of aggressive, if not brutal, measures to deal with Brazil’s high crime rate. Unlike AMLO, he is unproven as a manager and has never tackled anything as difficult as running Mexico City.
As with AMLO, he will have an opportunity over the next few months to make a series of symbolic gestures. His choices of treasury minister and central bank governor are crucial, as is his choice of the first few measures he chooses to prioritize in his dealings with the legislature.
Political risk in both Brazil and Mexico remains high, even though we now know the identity of their presidents for the next few years. The market’s current judgment could prove to be correct. But the balance of probability points to Mexico having a greater chance of revival from here than Brazil.
Fabrib
Forumer storico
Credit rating agency Fitch lowers its outlook for Mexico to negative from stable and retains BBB + credit rating.
It reports Bloomberg News.
One of the reasons is reported to be Mexico's decision not to complete the construction of the planned airport that would have cost $ 13 billion, reports the Financial Times.
The Mexican peso dropped 1.8 percent after the message.
It reports Bloomberg News.
One of the reasons is reported to be Mexico's decision not to complete the construction of the planned airport that would have cost $ 13 billion, reports the Financial Times.
The Mexican peso dropped 1.8 percent after the message.
waltermasoni
Caribbean Trader
Fitch Affirms Mexico at 'BBB+'; Revises Outlook to Negative
31 OCT 2018 12:48 PM ET
Fitch Ratings-New York-31 October 2018: Fitch Ratings has affirmed Mexico's Long-Term, Foreign-Currency Issuer Default Rating (IDR) at 'BBB+' and has revised the Rating Outlook to Negative from Stable.
A full list of rating actions is at the end of this rating action commentary.
31 OCT 2018 12:48 PM ET
Fitch Ratings-New York-31 October 2018: Fitch Ratings has affirmed Mexico's Long-Term, Foreign-Currency Issuer Default Rating (IDR) at 'BBB+' and has revised the Rating Outlook to Negative from Stable.
A full list of rating actions is at the end of this rating action commentary.