Moody’s Investors Service MCO -0.53 % on Tuesday placed Mexican national oil company Petróleos Mexicanos on review for a possible downgrade in its credit rating, citing falling earnings at the company because of lower crude oil prices and a likely increase in financing needs. The review was prompted by the company’s weak cash generation and financial profile so far in 2015. “Cash generation has weakened due to lower oil prices and will result in large borrowing needs in the near future,” Moody’s said in a release. Pemex is rated A3 by Moody’s, which is the same as Mexico’s sovereign rating. The Mexican government’s outlook is stable. Fitch Ratings and Standard & Poor’s rate Pemex triple-B-plus, the equivalent of one notch below Moody’s. The state company, which pays much of its earnings to the federal government in royalties and taxes, has been steadily increasing investment budgets over the […]