12/09/2015 Rio de Janeiro, December 9, 2015 – Petróleo Brasileiro S.A. – Petrobras informs Moody’s Investors Service reviewed Petrobras' rating from Ba2 to Ba3, with negative outlook. According to Moody’s, this revision reflects elevated refinancing risks due to deteriorating industry conditions, difficulties to implement the divestment plan, high level of debt maturities in the coming... Continue Reading →
Brazil Ratings Put Under Review for Cut to Junk by Moody’s
Brazil’s sovereign rating was put on review for a cut to junk by Moody’s Investors Service as the economy worsens and the government struggles to push through measures that would shore up the budget. A turnaround in Brazil’s economic and fiscal performance "now appears unlikely in 2016," Moody’s said in a statement Wednesday. Because of... Continue Reading →
Brazil Real Tumbles as Moody’s Signals It May Cut Rating to Junk
Brazil’s real fell after Moody’s Investors Service said it may cut the nation’s sovereign rating to junk as the economy worsens and the government struggles to push through measures to shore up the budget. Moody’s said in a statement Wednesday it put Brazil’s rating under review and that a turnaround in Brazil’s economic and fiscal... Continue Reading →
The Professor at the Heart of Brazil’s Market Meltdown
It played a key role in the creative bookkeeping at the heart of the impeachment process against Brazil President Dilma Rousseff. It spearheaded the debt surge that contributed to the country’s loss of investment grade. Its biggest client has been Petrobras, the scandal-plagued state oil company. BNDES, the huge development bank owned by the Brazilian government,... Continue Reading →
Latin America’s Populist Collapse Cheered With Foreign Inflows
It’s been a tough run for Latin American leftists, and investors couldn’t be happier. Traders have snapped up assets from countries showing a shift away from the populist leadership of the past decade. Venezuelan bonds climbed to the highest since May after the opposition on Sunday won a majority in Congress for the first time in... Continue Reading →
GE Said to Be in Advanced Talks for Halliburton Drilling Assets
General Electric Co. is in advanced talks to buy the drill-bits and drilling-services divisions of Halliburton Co., which is divesting assets to win antitrust approval for its takeover of Baker Hughes Inc., according to people familiar with the matter. Selling both the drill-bits and drilling-services businesses could have fetched as much as $5 billion in... Continue Reading →
Petrobras – Clarification on News: Fine on Withdrawal from Sete Brasil Rig Contracts
12/08/2015 Rio de Janeiro, December 8, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 524/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter no. 524/2015/CVM/SEP/GEA-1 “We refer to the article published in the Mercado (Market) section of Folha de São Paulo newspaper on December 4, 2015 entitled: “Without Sete’s rigs, Petrobras will... Continue Reading →
Brazil’s top court suspends temporarily impeachment of Rousseff
Brazil's Supreme Court has suspended impeachment proceedings against President Dilma Rousseff until it can rule on the constitutional validity of the opposition bid to impeach her, a court official said on Wednesday. Justice Luiz Edson Fachin decided late on Tuesday to suspend the appointment of an impeachment committee and all its proceedings until the top... Continue Reading →
Brazil Real Surges After Government Setback in Impeachment Fight
Brazil’s real rallied after the government suffered a setback in Congress that fueled speculation there may be more support to oust President Dilma Rousseff than previously expected. The real gained 0.8 percent to 3.7673 per dollar as of 10:13 a.m. in Sao Paulo. One-month implied volatility fell to 20.14 percent, still the highest among 16 major currencies... Continue Reading →
Offshore Supply Boats Facing Distress With Drop in Drilling Rigs
The relatively unheralded corner of the oil sector that sends supply boats out to offshore oil rigs may see bankruptcies as the worst crude market downturn in decades spreads. More than half of the public companies in the offshore supply-vessel industry face a high probability of restructuring or bankruptcy, according to research released Tuesday from... Continue Reading →
Brazil Energy Insight 