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Impact of below 1 pct on federal debt/GDP ratio from Mexicos new oil refinery

May 17/2019

MOSCOW (MRC) -- Mexican ratings agency HR Ratings forecast an impact of below 1% on the ratio of Mexicos federal debt to gross domestic product (GDP) derived from the cost of building the new Dos Bocas oil refinery, as per Hydrocarbonprocessing.

Other ratings agencies and investors have expressed concern that the refinery, due to be built by state oil firm Pemex, will damage the nations finances and could run well past the $8 billion Mexican President Andres Manuel Lopez Obrador says it will cost.

As MRC informed earlier, Mexican government will invite four companies to bid in a restricted tender to build the new Dos Bocas refinery for state oil company Pemex.

HR Ratings de Mexico, S.A. de C.V. assesses creditworthiness of securities issued in the areas of finance, corporate, financial institutions, and infrastructure in Mexico. HR Ratings de Mexico, S.A. de C.V. was founded in 2007 and is based in Mexico City, Mexico.
Author:Anna Larionova
Tags:petroleum products, Crude oil, petrochemistry, Mexico.
Category:General News
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