Petrobras on rating outlook by Fitch Ratings

May 07, 2020

Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Fitch Ratings revised today the company’s international long-term ratings outlook from stable to negative,
and maintained the ratings of Petrobras at “BB-“.

This week the agency revised the sovereign rating outlook due to uncertainty over the duration and intensity of the Covid-19 pandemic in Brazil. According to Fitch, these factors could hinder the capacity for fiscal adjustment and implementation of economic reforms in the country.

As a result, Fitch changed today from stable to negative the rating outlooks of all entities whose risk levels are directly linked to the country´s sovereign ratings.