Petrobras Completes Negotiations with Creditors

Source: www.gulfoilandgas.com 1/6/2015, Location: South America

Petrobras has successfully completed negotiations with creditors who had demanded the third quarter 2014 (3Q14) financial statement reviewed by the External Auditor by the end of January 2015.

With the completion of this process, which demanded negotiations in bilateral contracts only, Petrobras has set all its financial contracts to the same condition regarding the release of unaudited 3Q14 financial statement.

Petrobras reiterates the information announced to the market on December 29, 2014, which states that the company will disclose to the market the 3Q14 financial statements, unaudited by its External Auditor, this month. Therefore eliminating the risk of accelerating the payment of the debt to the creditors.

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