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.
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