Fitch rates Petrobras notes BB-

Fitch Ratings said it assigned a BB- long-term rating to Petroleo Brasileiro SA’s (Petrobras) exchange notes offering due 2030.

Petrobras Global Finance BV, a wholly owned subsidiary of Petrobras, will sell the notes.

Petrobras is offering to exchange any and all of seven different outstanding notes for new notes. Petrobras intends to tender with cash up to $3 billion of the same outstanding notes as part of the offer, the agency said.

The outlook is stable.

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