July 26, 2019 / 2:55 PM / a month ago

Mexico's Pemex posts $2.74 bln loss in second quarter

MEXICO CITY, July 26 (Reuters) - Mexican state oil company Pemex reported a narrower 52.7 billion peso ($2.7 billion) loss in the second quarter on Friday, as the heavily indebted firm faces the prospect of a fresh downgrade from credit rating agencies critical of its direction.

During the April to June period, the company’s crude production dipped compared to the same quarter last year, and ratings agency Fitch downgraded Pemex debt to speculative or so-called junk status. (Reporting by David Alire Garcia; Editing by Julia Love)

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