Moody’s lifts Petrobras’ credit rating to Ba2

Moody’s lifts Petrobras’ credit rating to Ba2

Moody’s agency has raised the company’s corporate debt rating of Brazil’s Petrobras from Ba3 to Ba2, keeping the outlook stable.

Moody’s highlighted in its report, released yesterday, that the review of Petrobras’ rating reflects the improvement of the perspective of the sovereign rating of Brazil, from negative to stable.

Additionally, the agency pointed out that the change in the risk classification is the result of the continuous process of improving the company’s liquidity profile, reducing the leverage and debt portfolio management strategy, giving more security to the fulfilling their obligations.