Investor Presentaiton slide image

Investor Presentaiton

The debt/GDP ratio would increase, while PEMEX still faces a challenging outlook Primary Balance % of GDP PEMEX maturities* US$ billion 2.0 25 40 (47%) 1.0 Observed GEPC 0.9 20 1.0 0.5 0.3 0.3 0.3 13.4 0.1 0.1 15 0.0 -1.0 -2.0 T 10 -0.3 -0.5 5 0.6 تتا 7.9 7.2 7.1 0 -1.2 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 4.6 6.2 4.6 3.5 2.3 2.0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 HBPSBR % of GDP Rating agencies Fitch Ratings S&P Global 55.0 Observed GEPC Pre-CGPE A- A- MOODY'S A3 50.2 49.2 50.0 47.7 48.8 48.8 48.8 48.8 48.8 48.8 BBB+ BBB+ Baal 46.5 BBB BBB Sovereing PEMEX Baa2 Sovereing 45.0 43.2 BBB- Sovereing BBB- Baa3 40.0 BB+ BB+ Ba1 BB BB Ba2 35.0 T T 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 BB- BB- Ba3 B+ PEMEX B+ B1 PEMEX Notes: Does not include revolving loans with banking institutions Source: Banorte with data from MoF, PEMEX, Bloomberg and Rating agencies 33 83 Div Dep Guid ESG DB Rev ΤΙ LD Loan BAP Eco Mkt NIM NI ROE ICAP App Hist C/I 3.3 0.5 2035 2038 2040+ Investment grade threshold GRUPO FINANCIERO BANORTE 23.0
View entire presentation