Mexico's Obrador says Pemex economic position is improving

Mexican President Andres Manuel Lopez Obrador said on Wednesday that corruption is being eliminated from state oil company Pemex, adding that the company is better now than it has been in the last 30 years.

Rating agency Fitch on Tuesday downgraded the credit rating of Pemex, which holds $106 billion in financial debt, the highest of any state oil company in Latin America. The move sent Mexico's peso currency tumbling.