Will weaken price control for Pemex [Negocios] – 04/07/2018

Mexico City .- If the next federal administration controls or restricts fuel prices and increases the country's refining capacity, it could accelerate the weakening of Petróleos Mexicanos' individual credit profile (PCS) ( Pemex)), "Fitch Ratings

" The expansion and / or upgrading of the country's refining capacity and the control or limitation of fuel prices could accelerate the weakening of the individual credit profile of Pemex, according to the administration implements these policies, "said Fitch Ratings

. Throughout his campaign, the elected president, Andrés Manuel López Obrador, said that he was going to stop the gasoline and build two refineries in the country to stop the import of fuels.

According to its methodology, Fitch Ratings warned that even though the Pemex rating is tied to the debt rating The "BBB +" rating could be degraded if its PCD fell to a "CCC" level, as a structure of unsustainable capital.

Fitch Ratings adds that although the energy reform has been positive for Pemex, the company is preparing to receive these benefits in the long run, as a lower tax burden on the blocks you have earned.