Reported 5 months ago
Mexico's finance minister stated that there are no imminent plans for major debt restructurings for the state oil company, Pemex, and any new strategy would only be considered after the June 2 presidential election in coordination with the incoming administration. The comments are a reality check for investors who anticipated a swift resolution to Pemex's debt issues. The finance minister emphasized that any significant announcements regarding Pemex's debt would likely occur post-election. Bond prices of Pemex drifted lower following a global selloff of riskier assets, with analysts predicting that any substantial decisions regarding Pemex's debt would be made after the elections.
Source: YAHOO