Moody’s Reviews Petrobras’ Global Ratings

Source: www.gulfoilandgas.com 2/24/2016, Location: South America

Petrobras informs that the rating agency Moody’s announced the revision of Petrobras’ corporate debt rating to B3 from Ba3, with negative outlook. This decision follows the change by the agency in the sovereign rating.

According to Moody’s, this revision also reflects Petrobras’ liquidity conditions for the next years, the expected negative cash generation, high leverage ratios, exchange rate risks and deterioration of the oil and gas industry conditions, especially the decrease in oil prices.

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