Moody’s downgrades Petrobras

Moody's Investors Service said it downgraded all ratings for Petrobras SA (including debts rated based on Petrobras' guarantee), including a downgrade of the company's senior unsecured debt to Baa3 from Baa2.

The agency also lowered the company's baseline credit assessment to ba2 from ba1.

Moody’s said the actions reflect concerns about corruption investigations and liquidity pressures that might result from delays in delivering audited financial statements.

The ratings remain on review for further downgrade.

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