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Moody’s upgrades Petrobras
Moody's Investors Service said it upgraded the corporate family rating of Petroleo Brasileiro SA (Petrobras) to Ba1 from Ba2.
“The rating action was triggered primarily by the company's strong operating and financial performance as well as its solid credit metrics,” the agency said in a news release.
Simultaneously, Moody's raised Petrobras' baseline credit assessment to ba1 from ba2.
The outlook is stable.
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