Petrobras’s Can of Worms

Petrobras, which on Friday reported its first-quarter numbers,admits it has a problem, with its chief financial officer saying:

“Petrobras is a company with very high cholesterol levels, which is leverage.”

This sickness has no doubt been exacerbated by the corruption scandal that has left Petrobras in the cross-hairs of the Department of Justice and taken down members of Brazilian president Dilma Rouseff’s inner circle (she now faces an impeachment trial on separate allegations).

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