Oil and Gas

Risk of Pemex debt downgrades should be addressed: cenbank governor

ACAPULCO, Mexico, March 22 (Reuters) - The possibility that credit ratings agencies downgrade heavily-leveraged Mexican state oil company Pemex’s debt to junk status is a risk factor that should be attended to, Mexico’s central bank governor said on Friday.

“The issue of the agencies revising the Pemex rating stands out,” Alejandro Diza de Leon told reporters during a banking conference.

“It is important that we attend to that risk factor,” he said, when asked about a finance ministry proposal to use a budgetary stabilization fund to pay of some of the firm’s outstanding debt. (Reporting by Stefanie Eschenbacher and Dave Graham; Editing by David Alire Garcia)