NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed Latam Walkers Cayman Series 2006-101 CLP13,000,000 credit-linked notes (CLNs) at ‘BBB-‘. The Rating Outlook for the notes has been revised to Negative from Stable. KEY RATING DRIVERS The action is the result of recent Fitch actions taken on the corporate entity Petroleos Mexicanos (Pemex), who acts as the reference entity in the transaction. On Dec. 9, 2016, Fitch affirmed Pemex at ‘BBB+’ and revised the Outlook to Negative from Stable. The
