July 26, 2019 / 7:31 PM / 3 months ago

Pemex likely to require more government support: Moody's analyst

MEXICO CITY (Reuters) - A Moody’s analyst said on Friday that he expected Mexican state oil company Pemex to require more support from the government to avoid increasing its net debt, after the ailing state oil company reported another quarter of major losses.

“We forecast that Pemex will generate more negative cash flow in the second half of 2019 and would require more help from the government in order to avoid increasing its net debt,” Moody’s senior vice president Pete Speer wrote in a note.

Reporting by Diego Ore; writing by Stefanie Eschenbacher; editing by Jonathan Oatis

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