Bond traders have begun to treat Mexican debt like junk after the government has spent $130 billion to bail out state-owned oil giant Petroleos Mexicanos. Bloomberg's Scott Squires explains. (Source: Bloomberg)
Bond traders have begun to treat Mexican debt like junk after the government has spent $130 billion to bail out state-owned oil giant Petroleos Mexicanos. Bloomberg's Scott Squires explains. (Source: Bloomberg)
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Long the poster child of fiscal probity in emerging markets, Mexico was, at its peak, an A-rated borrower in the bond market just a few years ago. Today, the country finds itself teetering on the cusp of junk status and paying interest rates that are higher than those offered by tiny neighbors with lower credit ratings, like Guatemala and Panama.
