March 20, 2012
Mexico´s Petrotemex has seen its rating raised to BB plus from BB by Standa
Mexico´s Petrotemex has seen its rating raised to BB plus from BB by Standard & Poor´s, which notes the Mexican petrochemical company has improved its cash flow generation by consolidating acquired assets. The rating reflects expectations that Petrotemex will maintain a financial performance consistent with its financial risk profile, including a net leverage target ratio of less than 2.5%, according to S&P. The outlook is stable.