NY -- Standard&Poor's CreditWire 7/9/96 -- Standard&Poor's today has announced that it expects to assign a triple-'B'-minus rating to the US$3 billion of floating rate notes due 2001 to be issued by the United Mexican States. The investment-grade rating applies to both the global notes and certificated notes being issued. The notes are rated higher than Mexico's double-'B' foreign currency debt, as they benefit from credit support arrangements in respect of proceeds from exports of crude oil and oil derivatives ("Exports") by Petroleos Mexicanos ("Pemex"), the state-owned oil company, and its export sales affiliates. Standard&Poor's believes that the credit support arrangements create significantly stronger incentives for timely repayment of the rated notes than for
