Market favors rainy day funds for Pemex

Market favors rainy day funds for Pemex

Corporate & Sovereign Strategy Economy & Policy Debt Bonds Capital Markets Fixed Income Regulation Politics Mexico

Investors and bankers have reacted favorably to the news that Mexico's Pemex could receive $7bn from the government, but some are skeptical it will help lift the state-owned oil company out of debt. "It helps the tone, but seeing actual disbursement would help even more," said a bond buyer in New York. Finance Minister Carlos Urzúa said last week at a banking conference in Acapulco that the government could use some money from a MXN300bn ($15.8bn) stabilization fund to help the state-owned oil

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