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Outlook On Petrobras Ratings Are Revised To Positive Following Sovereign Rating Outlook Revision May 11
Standard & Poors, May 2011
SAO PAULO (Standard & Poor's) May 23, 2011--Standard & Poor's Ratings Services revised its rating outlook to positive from stable on Brazil's national oil company, Petroleo Brasileiro S.A. (Petrobras), following an identical outlook revision on the sovereign ratings on the Federative Republic of Brazil. Standard & Poor's also affirmed its 'BBB-' corporate credit rating on Petrobras. "The ratings on Petrobras continue to reflect our opinion of the company's very important role and its very strong link with the sovereign of Brazil," said Standard & Poor's credit analyst Paula Martins. "Under our criteria for government-related entities, we see very high likelihood of extraordinary support from the federal government when such support is needed," Martins added. The positive outlook reflects our expectation...
Companies mentioned in this report are: Petroleo Brasileiro S.A. - Petrobras
Action: Outlook: Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Petroleo Brasileiro S.A. - Petrobras