Fitch Ratings raises Petrobras stand-alone credit profile

Rio de Janeiro, March 8, 2019 – Petróleo Brasileiro SA – Petrobras informs that the rating agency Fitch raised its stand-alone credit profile (SCP) by two notches to “BB+” from ” BB-” and affirmed the  long-term foreign and local currency Issuer Default Ratings (IDRs) at “BB-“, with a stable outlook.

Fitch noted that the increase in the SCP reflects a robust cash generation and significant reduction of Petrobras’ debt, which has been reporting capital structure improvement over the past years.

With this revision, the SCP granted to Petrobras exceeds the company’s rating on a global scale, which follows the Government of Brazil’s rating, the company’s controlling shareholder.

03/08/2019

Rio de Janeiro, March 8, 2019 – Petróleo Brasileiro SA – Petrobras informs that the rating agency Fitch raised its stand-alone credit profile (SCP) by two notches to “BB+” from ” BB-” and affirmed the  long-term foreign and local currency Issuer Default Ratings (IDRs) at “BB-“, with a stable outlook.

Fitch noted that the increase in the SCP reflects a robust cash generation and significant reduction of Petrobras’ debt, which has been reporting capital structure improvement over the past years.

With this revision, the SCP granted to Petrobras exceeds the company’s rating on a global scale, which follows the Government of Brazil’s rating, the company’s controlling shareholder.

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