Standard & Poor’s reiterated a negative outlook for Brazil’s Petrobras on Tuesday, signaling the state-run oil company might soon lose its investment-grade rating despite its recent efforts to cut debt and restore investor confidence.
Petroleo Brasileiro SA, as the company is formally known, has slashed its long-term spending plan to an eight-year low as it grapples with the financial impact of a massive corruption scandal.
Brazil Energy Insight 
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