Petrobras' Stand-alone Credit Profile Upgraded by S&P

Source: www.gulfoilandgas.com 7/28/2021, Location: South America

Petrobras informs that the rating agency S&P Global Ratings (S&P) raised its stand-alone credit profile (intrinsic risk) by one notch, from "bb" to "bb+".

The agency affirmed the global scale rating of the company's corporate debt at "BB-", two levels below the stand-alone credit profile, due to Brazil’s sovereign rating cap. The stable outlook was maintained.

"This upgrade is a recognition of Petrobras' commitment to improving its financial leverage and generating more value. We will continue executing our strategies to make further progress", highlighted the Chief Financial and Investor Relations Officer, Rodrigo Araujo Alves.

S&P emphasized that the stand-alone credit profile upgrade reflects the improvement in the company's capital structure, the solid cash generation, and the progress in the asset sales program. It also highlighted the focus on cost reduction, efficiency gains, and the company's strong competitive position.


Canada >>  9/23/2021 - Cenovus Energy Inc. announced the early tender results of its previously announced cash tender offer (the “Maximum Tender Offer”) and that it has incr...
United Kingdom >>  9/23/2021 - IOG plc, the Net Zero UK gas and infrastructure operator focused on high return projects, announces a proposed placing (the "Placing") and Subscriptio...

United Kingdom >>  9/23/2021 - IOG plc, the Net Zero UK gas and infrastructure operator focused on high return projects, is pleased to announce that, further to the announcement mad...
Netherlands/Holland >>  9/22/2021 - SBM Offshore reports the transaction details related to its EUR150 million (c. US$180 million) share repurchase program for the period September 16, 2...

United States >>  9/22/2021 - Cabot Oil & Gas Corporation ("Cabot") and Cimarex Energy Co. ("Cimarex") announced that, in connection with the previously announced offers to eligib...
United States >>  9/22/2021 - Omnidian, the only nationwide provider of residential, commercial and industrial solar system performance plans and performance guarantees, announced ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.