S&P Global Ratings affirmed Petrobras’ risk rating

01/12/2018

Rio de Janeiro, January 12, 2018 – Petróleo Brasileiro SA – Petrobras informs that S&P Global Ratings affirmed the company’s corporate debt ratings at BB-, with a stable outlook, after downgrading Brazil’s sovereign risk level from BB (negative outlook) to BB- (stable outlook).

S&P considers that the company’s risk level is correlated with the sovereign risk, being, therefore, capped at Brazil’s ratings.