Moody's: Petrobras notes A3

Moody's Investors Service said it assigned an A3 rating to two series of global notes issued by Petrobras International Finance Co.

The outlook is stable.

Moody's said Petrobras' A3 foreign currency bond rating reflects its dominant position in Brazil's upstream and downstream petroleum sectors; its sizable hydrocarbon reserves and strong growth profile in oil and natural gas production, particularly in deep-water Brazil and its emerging pre-salt plays; and the benefit of upstream/downstream integration and growing energy demand in Brazil for earnings and cash flow.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.