May 16, 2019 / 10:02 PM / 11 days ago

Fitch says recent Pemex measures "very far" from meeting its needs

MEXICO CITY, May 16 (Reuters) - The financial package unveiled by the Mexican government earlier this week for Pemex is a step in the right direction, but still “very far” from meeting the state oil company’s needs, Fitch Ratings said on Thursday.

Mexican President Andres Manuel Lopez Obrador announced measures designed to help Pemex with its debt load by renewing credit lines with three banks, as well as plans to gradually reduce the company’s tax burden. (Reporting by Stefanie Eschenbacher; editing by Dave Graham)

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