S&P rates Petrobras notes BBB-

Standard & Poor's said it assigned a BBB- rating to Petrobras International Finance Co.'s global notes due 2016. The issuer is a wholly owned subsidiary of Petroleo Brasileiro SA (BBB-/stable).

The notes will form a single fungible series with the original global notes (rated BBB-) issued on Oct. 6, 2006. The global notes benefit from Petrobras' credit support under the terms of a standby purchase agreement, according to S&P.

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