Petrobras Credit Rating Raised

Moody’s Investors Service has raised the foreign currency bond ratings of Brazilian state-owned oil producer Petrobras from Ba1 to Baa2. Moody’s said the rating actions were prompted by its previous upgrade of Brazil’s long-term foreign currency ceiling for bonds and notes to Ba3 from B1. The A2 global local currency rating, Aaa.br national scale rating and Not Prime short-term foreign currency rating of Petrobras were not affected by these rating actions.