S&P cuts Pemex credit rating as outlook sinks for other Mexican firms, banks

S&P cuts Pemex credit rating as outlook sinks for other Mexican firms, banks Ratings agency Standard & Poor’s (S&P) on Monday slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the debt-laden oil firm’s finances. S&P followed the Pemex cut with lower credit outlooks for a range of major Mexican financial institutions and companies, including telecommunications giant América Móvil and Coca-Cola Femsa, the world’s largest Coke bottler. Reuters reports.   AngloGold Ashanti to sell Northern Colombia exploration project South Africa’s AngloGold Ashanti agreed to sell its interest in Northern Colombia Holdings Limited to Royal Road Minerals Limited to focus on its other Colombian exploration projects, it said […]