© Reuters. FILE PHOTO: The logo of Mexican state oil company Petroleos Mexicanos (Pemex) is pictured at a gas station in Ciudad Juarez, Mexico February 27, 2020. REUTERS/Jose Luis Gonzalez/File Photo
MEXICO CITY (Reuters) – Standard & Poor’s (S&P) said on Thursday it raised Braskem-Idesa’s credit rating from “B” to “B+” citing better performance and deleveraging after the firm reached an ethane gas supply agreement with Mexican state oil company Pemex.
On Tuesday, Brazilian petrochemical firm Braskem said its Mexican subsidiary Braskem-Idesa had reached a new gas supply accord with Pemex to settle differences between the companies and build a $400 million ethane terminal.
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