Mexico finance panel notes risk of credit rating action on sovereign, Pemex

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Flags of Mexico, United States and Canada are pictured at a security booth at Zaragoza-Ysleta border crossing bridge, in Ciudad Juarez

MEXICO CITY (Reuters) – Mexico’s financial stability council said on Wednesday that there is risk of credit rating action on the ratings for the sovereign and state oil firm Petroleos Mexicanos (Pemex).

The council, which includes Mexico’s finance minister, central bank governor and head of the banking commission, said a credit rating action on Pemex has been mitigated by measures to improve the tax take and higher oil prices.

(Reporting by Anthony Esposito)