Mexico to inject $3.9 billion in Pemex, seeks to prevent credit downgrade

It now holds roughly $106 billion in financial debt, the highest of any national oil company in Latin America. Fitch said on Friday that the plan, which includes additional tax cuts, more government spending on the company and debt refinancing, would likely not be enough to prevent "continued deterioration" in Pemex's credit quality. The agency cited an ongoing "significant level of underinvestment" for Pemex.