Pemex CEO Lashes Out at Moody's, Echoing Diehard Bond Bulls [BNN Bloomberg (Canada)]
Banco Bilbao Vizcaya Argentaria S.A. (BBVA)
US:NYSE Investor Relations:
shareholdersandinvestors.bbva.com
Company Research
Source: BNN Bloomberg
The call with investors may have been about fourth-quarter results — and the profit the state-run oil giant reported — but Romero couldn't resist the urge to blast Moody's analysts for their decision to slash Pemex's credit rating deeper into junk a few weeks ago. What galled Romero the most was the way Moody's questioned the government's commitment to keep Pemex out of default as its finances deteriorate. “Pemex doesn't understand where Moody's got its information,” said Romero, who was named acting CEO back in 2018. “It's irresponsible.” As a state-run company, he said, Pemex “has the full support of the Mexican government.” To a small, but vocal, number of die-hard Pemex bond bulls who have been pocketing outsize returns for years, Romero is simply speaking the truth. Pemex is Mexico, and Mexico is Pemex and, as they see it, there's little chance that politicians let a company so woven into the fabric of the nation default — regardless of what the balance sheet looks like. T
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BBVA
Earnings
- 4/29/24 - Beat
BBVA
Analyst Actions
- 3/25/24 - Barclays PLC
BBVA
Sec Filings
- 5/1/24 - Form 6-K
- 4/30/24 - Form 6-K
- 4/30/24 - Form 6-K
- BBVA's page on the SEC website