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Pemex's New York roadshow spooks investors, yields spike

January 12, 2019 3:05 AM
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MEXICO CITY (Reuters) - Yields on the debt of Mexican state-run oil company Pemex rose sharply this week after the company failed during presentations in New York to lay out a clear plan to reduce debt and increase output, analysts said.

Pemex faces the possibility of a credit ratings downgrade due to costly proposals by the new government of leftist President Andres Manuel Lopez Obrador that include plans to build a new refinery and upgrade existing ones.

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