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The Rating Agency Fitch Ratings reported that Pemex will face the same financial challenges under the new administration that will lead Andrés Manuel López Obrador and as he did under previous governments.
According to the agency, the profile of the independent credit Pemex which currently has the classification – B – & # 39; will remain low pressure
"The heavy tax burden of Pemex causes the deterioration of its credit profile and led to an increase in the total debt of society to 106 thousand million dollars in March 2018 "says Fitch Ratings.
The qualifier recalls that the current rating of the oil company is in line with that of the country, that the Government of Mexico is strongly urged to support society for the very heavy socio-political and financial consequences that the financial crisis of the company would have for the country.
"A situation of financial difficulty in Pemex has the potential to interrupt the supply of liquid fuels throughout the country, which could have significant social and economic consequences for Mexico ";
In this regard, he pointed out that a situation of financial difficulties in Pemex could have repercussions on the ability of the government or other government-related entities in the country to obtain funding.
Fitch recalled that the energy sector platform of the new administration plans to modernize and expand refineries in Mexico and reevaluate the energy reform undertaken by the current administration.
"The expansion or upgrading of the country's refining capacity and the control or limitation of liquid fuel prices they have the potential to accelerate Pemex's credit-based impairment." the way the new administration implements these policies. "
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