Embattled Pemex Gets $8 Billion Loan to Ward Off Junk Status

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Embattled Pemex Gets $8 Billion Loan to Ward Off Junk StatusPetroleos Mexicanos officials signed the financing agreement with JPMorgan Chase & Co., HSBC Holdings Plc and Mizuho Financial Group Inc. alongside President Andres Manuel Lopez Obrador at a morning news conference. Pemex bonds outperformed peers on Monday, defying a broad slump in emerging-market debt amid growing concerns about the outlook for global trade. Analysts have also cited the lack of a convincing turnaround plan from the Lopez Obrador administration since he took office late last year.

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