Mexico Bonds Trade Like Junk After $130 Billion Bailout of Pemex
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.
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