Exclusive: Mexico rainy-day fund could avoid Pemex debt refinancing this year - minister
Mexico`s finance ministry is exploring possibilities to avoid a costly refinancing of ailing state-oil company Pemex`s debt this year including dipping into a budget stabilization fund, Finance Minister Carlos Urzua said on Friday.
Urzua told Reuters in an interview that Pemex`s weak credit rating could make it "very costly" to refinance more than $6 billion of payments that are due this year.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.