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http://www.ft.com/cms/s/0/e8da11d2-bd0f-11e4-b523-00144feab7de.html#ixzz3SmyDq1rT February 25, 2015 5:37 pm Brazil hit by Petrobras downgrade Joe Leahy in São Paulo and Vivianne Rodrigues in New York ©Getty Brazilian bonds, equities and currency were rocked on Wednesday after Moody’s cut its ratings of state-controlled oil company Petrobras to junk status, citing a corruption scandal at the company. The move by Moody’s — the first... Continue Reading →
Petrobras Junk Rating Pressures Brazil’s Levy to Deliver By Raymond Colitt 2:17 PM BRT February 25, 2015 (Bloomberg) -- Petrobras’s downgrade to junk credit rating is adding to pressure on Brazil’s new Finance Minister Joaquim Levy to deliver on spending cuts or risk a similar fate for Latin America’s largest economy. Moody’s Investors Service... Continue Reading →
Petrobras cancelled the renewal of four rig contracts: Seadrill – West Taurus contract ending this month and West Eminence with contract ending in July 2015. People in the know say daily rate was above present market conditions. Diamond Offshore – Ocean Baroness contract ending in September 2015. Diamond tried to negotiate a 3 year extension.... Continue Reading →
Petrobras Cut to Junk by Moody’s as Probe Hobbles Oil Producer By Filipe Pacheco Sabrina Valle 9:08 PM BRT February 24, 2015 (Bloomberg) -- Petroleo Brasileiro SA’s descent into junk-bond status may be far from over. Moody’s Investors Service kept a negative outlook on the state-controlled oil producer’s rating after cutting it to Ba2,... Continue Reading →
The 0-for-27 Tally on Debt Ratings Seen Worsening: Brazil Credit by Filipe Pacheco Ney Hayashi Cruz 1:43 AM BRT February 25, 2015 (Bloomberg) -- To appreciate just how bad things are in Brazil, consider this: its companies have suffered 27 rating downgrades in the first two months of the year. The number of upgrades? Zero.... Continue Reading →
Moody’s Cuts Petrobras’s Debt to Junk Ratings firm said it is keeping its review of Brazil-controlled energy company on review for downgrade By PAULO TREVISANI Updated Feb. 24, 2015 7:32 p.m. ET BRASÍLIA—Moody’s Investors Service said Tuesday it downgraded Petróleo Brasileiro SA ’s debt to junk status. The embattled energy company controlled by the Brazilian government and... Continue Reading →
Builder Mata Pires Becomes Brazil's Latest Ex-Billionaire By Blake Schmidt Sabrina Valle 11:45 AM BRT February 24, 2015 (Bloomberg) -- Cesar Mata Pires amassed one of Brazil’s biggest fortunes by building World Cup stadiums, offshore oil platforms and highways from Haiti to Angola. At its peak in 2014, Mata Pires’s net worth stood at $7... Continue Reading →
Brazil Shipyard EAS Ends $6 Billion Deal to Make Petrobras Rigs By Christiana Sciaudone Yasmine Batista 4:02 PM BRT February 23, 2015 (Bloomberg) -- Sete Brasil Participacoes SA, the company founded to lease oil rigs to Petroleo Brasileiro SA, said it’s considering legal measures against a shipyard that pulled out of a $6 billion... Continue Reading →
http://www.ft.com/cms/s/0/c0ce6a6c-b918-11e4-a8d0-00144feab7de.html#ixzz3SWZLIvOJ February 22, 2015 2:37 pm Multinationals face scrutiny on Petrobras Joe Leahy in São Paulo ©Bloomberg It was over lunch some years ago that Paulo Roberto Costa, a former executive of Brazil’s state-owned oil company Petrobras, who today is the star witness in the country’s largest corruption case, claims he first met Maersk executive Viggo Andersen.... Continue Reading →
Brazil Prosecutors seek $1.6 Billion From Builders in Graft Case by Sabrina Valle 1:21 PM UYST February 20, 2015 (Bloomberg) -- Some of Brazil’s biggest building companies were targeted for the first time in an investigation into alleged kickbacks at Petroleo Brasileiro SA, with prosecutors seeking 4.47 billion reais ($1.6 billion) in compensation.... Continue Reading →
