Research Update: Eletrobrás And Petrobras Ratings Raised, After Brazil Sovereign Upgrade Nov 11
- ID: 2025937
- November 2011
- Region: Brazil
- Standard & Poors
On Nov. 17, 2011, we raised our long-term global scale sovereign rating on Brazil to 'BBB' from 'BBB-'. We view Eletrobrás and Petrobras as government-related entities whose likelihood of extraordinary government support is, in our opinion, "almost certain" and "very high," respectively. We are raising our foreign and local currency ratings on Eletrobrás to 'BBB' from 'BBB-' and to 'A-' from 'BBB+', respectively, and raising the global scale corporate credit ratings on Petrobrás to 'BBB' from 'BBB-', following a similar sovereign rating action on Brazil. The stable outlooks on these companies mirror that on Brazil. On Nov. 17, 2011, Standard & Poor's Ratings Services raised its ratings on Brazil's national electric company, Eletrobrás-Centrais Elétricas Brasileiras S.A., and its national oil...
Companies mentioned in this report are:
- Eletrobras-Centrais Eletricas Brasileiras S.A.
- Petroleo Brasileiro S.A. - Petrobras
- Brazil (Federative Republic of)
- BNDESPar-BNDES Participacoes S.A.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >