Moody’s rates Petrobras Distribuidora Ba1

Moody's Investors Service said it assigned a Ba1/Aaa.br corporate family rating to Petrobras Distribuidora SA.

The outlook is stable.

The agency said the ratings mainly reflect the company’s market position as the largest fuel distributor in Brazil in terms of volumes sold, gas stations network and distribution logistics assets, along with its well-known brand names and adequate credit metrics.

The ratings also incorporate the improvements in governance standards following the company’s privatization in July 2019, as well as the expected profitability gains over the next few years in the context of a recently launched and ambitious efficiency plan.

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