S&P: Petrobras notes BBB

Standard & Poor's said it assigned a BBB rating to Petrobras International Finance Co.'s £700 million senior unsecured notes due Dec. 14, 2026.

The company is a wholly owned subsidiary of Petroleo Brasileiro, which will use these notes to finance its capital expenditures program and extend the average tenor of the company's existing indebtedness maturity, S&P said.

The rating is aligned with those on Petrobras and incorporates its unconditional corporate guarantee, the agency said.

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