Citigroup comment on PEMEX....

Pemex Bond Yield Gap to Mexico Shrinks by 69% as Profit Outlook ...

"Pemex’s borrowing costs are coming down because the company and government are “interdependent,” Suarez said. “Pemex is cheap right now.”

The company’s second-quarter results, scheduled to be released tomorrow, improved as a surge in oil prices offset falling crude production and a rebound in the peso cut debt- servicing costs, said Arnulfo Rodriguez, head of fixed-income research at Citigroup’s Banamex unit in Mexico City."

 [Citigroup.... bond holder for ASARCO along with Harbinger group ... see: "Citigroup is an affiliate of Harbinger Capital Partners, a hedge fund manager. Citigroup and Harbinger are creditors in Asarco's pending bankruptcy proceeding. They are based in New York and together are owed $300 million." http://www.elpasotimes.com/news/ci_12806700 )