Moody's assigns Ba1 to Petrobras notes

Moody's Investors Service said it assigned a Ba1 rating to the planned senior unsecured notes due in up to 10 years to be issued by Petrobras Global Finance BV's and guaranteed by Petroleo Brasileiro SA.

Petrobras' other ratings including its Ba1 corporate family and Ba1 backed senior unsecured ratings remain unchanged, Moody’s said.

“The proposed issuance is part of Petrobras's liability management strategy and proceeds will be used for general corporate purposes which may include the repayment of outstanding indebtedness, thus not affecting the company's debt protection metrics,” the agency said in a press release.

The outlook is stable.

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