GREY:RNSFF - Post by User
Post by
hydrocarbsson Jan 31, 2019 1:19pm
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Post# 29302198
ALMO via Pemex bond rating downgrade is under pressure
ALMO via Pemex bond rating downgrade is under pressureNews Jan 30, 2019 Fitch maintained its negative outlook after downgrading Pemex two levels to BBB-, saying the governments measures for the oil company are not enough to offset the deterioration in the companys standalone credit profile. "There is a significant risk the credit goes below investment grade," said Shamaila Khan, a money manager at AllianceBernstein in New York. "It is one of the largest issuers in EM with close to $100 billion of bonds outstanding, so that could lead to significant forced selling." ALMO is in the hot seat, of his choosing... Needs cash, can get it thru increased crude oil production. Needs all hands on deck in the effort to bring about petroleum production increases. Migration of contracts is a crucial step in ALMO reaching his goals.