Moody's assigns Petrobras notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to Petrobras Global Finance BV's $8.5 billion in senior unsecured floating- and fixed-rate notes with maturities from 2017 to 2044.

Proceeds, together with the $5.1 billion in global notes issued last January, will be used to for general corporate purposes, including debt refinance and capital investitures.

The outlook is negative.

Moody's said the Baa1 ratings on the notes issued by Petrobras Global Finance are based on Petroleo Brasileiro SA's Baa1 ratings, which are supported by its large-scale reserve base and dominance in the Brazilian oil industry with a leading position in one of the industry's most prospective offshore areas and by its sizeable new pre-salt discoveries and technological expertise.

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