Moody's ups Petrobras foreign currency view to positive

Moody's Investors Service said it changed the outlook for the Baa1 foreign currency bond rating of Petroleo Brasileiro SA (Petrobras) and its guaranteed subsidiaries to positive from stable.

The change in outlook is in response to the upgrade of the government of Brazil's long-term foreign currency rating to Baa3 from Ba1, with a positive outlook.

In conjunction with that action, Moody's also raised Brazil's foreign currency bond ceiling to Baa2 from Baa3 with a positive outlook.

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