Petrobras Seeks Funds as BofA Sees Need for Asset Sales By Peter Millard 10:08 AM BRT  February 26, 2015    (Bloomberg) -- Petroleo Brasileiro SA, the world’s most-indebted publicly traded oil company, said it’s seeking financing options and studying cost cuts following a downgrade to junk by Moody’s Investors Service. Petrobras, as Brazil’s state-run oil... Continue Reading →

Petrobras Rig Bust Threatens Rolls-Royce Deal: Corporate Brazil By Christiana Sciaudone Peter Millard 12:00 AM BRT  February 26, 2015 (Bloomberg) -- Rolls-Royce Plc and General Electric Co. are among oil-industry suppliers whose contracts in Brazil may be casualties of the spreading corruption scandal involving Petroleo Brasileiro SA. The two companies were set to make parts... 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 →