- Moody's downgrades all ratings for Petrobras (PBR -4.2%) to Ba3 from Ba2, further into junk territory, and places them on review for possible further downgrade.
- The downgrade reflects PBR's "elevated refinancing risks in the face of deteriorating industry conditions that make it more difficult to raise cash through asset sales," the ratings agency says.
- Moody's also places Brazil's Baa3 rating on review for downgrade, driven by a rapidly deteriorating economy and "worsening governability," after the congress opened impeachment proceedings against Pres. Rousseff.
- ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
Petrobras debt downgraded deeper into junk at Moody’s
Recommended For You
About PBR Stock
Related Stocks
Symbol | Last Price | % Chg |
---|---|---|
PBR | - | - |
Petróleo Brasileiro S.A. - Petrobras |