Pemex: What’s There to Celebrate?

The cow has run dry and is no longer producing milk
Read moreThe cow has run dry and is no longer producing milk
Read morePULSE NEWS MEXICO Just two days after the U.S. financial services rating agency Standard & Poor’s (S&P) revised its long-tern outlook for Mexico from negative to stable, Moody’s Analytics, another of the Big Three credit rating agencies, on Friday, July 8, downgraded the country’s sovereign bonds to Baa2, the next-to-last rung of investment grade, adding that Mexico’s economy will remain
Read moreBy THE PULSE NEWS MEXICO STAFF Mexico’s inflation rate hit 6.24 percent in October, its highest level since December 2017, the National Institute of Statistics and Geography (Inegi) said Monday, Nov. 8. The National Consumer Price Index (INPC) hike was above market forecasts, which had predicted an annual increase of 6.16 percent, according to a group of economic analysts consulted
Read moreBy ALEJANDRO ENVILA FISHER The question that everyone in Mexico should be asking themselves is whether ordinary citizens are more interested in subsidizing, with their own paychecks and a reduced quality in their public services, an ideologized concept of national sovereignty as purported by President Andrés Manuel López Obrador (AMLO) and his so-called Fourth Transformation (4T), or paying less for
Read moreBy THE PULSE NEWS MEXICO STAFF Moody’s Analytics, one of the three top credit rating agencies in the world, said Wednesday, Oct. 6, that Mexican President Andrés Manuel López Obrador’s (AMLO) controversial electricity reform initiative would have negative implications for the country’s credit rating. “The initiative would be negative for the Mexican power sector because it would decrease its operational
Read moreBy THÉRÈSE MARGOLIS When the international rating agency Moody’s Analytics downgraded Mexico’s state-run oil giant Petróleos Mexicanos credit again earlier this week — this time to out-and-out “junk” with a “negative outlook” — it should have set alarm bells ringing nationwide as to the country’s credibility with investors and lenders. Moody’s new rock-bottom Ba3 rating — based mostly on the
Read moreBy THÉRÈSE MARGOLIS In school, a strong B across the board is considered to be a respectable grade. In the world of financial credit ratings, not so much. Although the way that each of the Big Three rating agencies — Standard and Poor´s (S&P), Moody’s Analytics and Fitch Ratings, which collectively account for 99 percent of the world’s ratings market
Read moreBy KELIN DILLON Following Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) acquisition of the Deer Park refinery in Texas, Moody’s Analytics, one of Big Three financial ratings agencies, downgraded the refinery’s evaluation to “junk” status. Moody’s devalued Deer Park from Ba3 to Baa2, meaning it is “in the lower ranking of its generic category,” with the potential to further downgrade
Read moreBy THE PULSE NEWS MEXICO STAFF Private investment in Mexico sank 19.89 percent in 2020, its biggest decline in 25 years. The decrease in fresh investment, measured as the Gross Formation of Private Fixed Capital (GFCF), represents the deepest slide since the 1995 financial crisis, when investment dropped by 38.51 percent, according to seasonally adjusted figures from the National Institute
Read moreBy KELIN DILLON Mexican President Andrés Manuel López Obrador (AMLO), incensed by District Judge Juan Pablo Gómez Fierro’s suspension of his controversial reform to Mexico’s electricity sector the previous day, launched a public tirade against anyone and everyone he deemed his enemies, ranging from foreign countries to his own presidential predecessors, during his daily press conference on the morning of
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