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Fitch reaffirms Petrobras' credit rating
Petrobras News Agency
Senado Building (Edisen), Petrobras headquarters, in Rio de Janeiro (RJ)
Download Senado Building (Edisen), Petrobras headquarters, in Rio de Janeiro (RJ)Petrobras announces that Fitch Ratings has affirmed the company's Long-Term Local and Foreign Currency Issuer Default Ratings (IDRs) and outstanding debt ratings at 'BB', with a stable rating outlook. Fitch also has affirmed Petrobras' long-term national scale rating at 'AAA'.
Fitch considers that Petrobras' Standalone Credit Profile (SCP) is consistent with investment grade, with a 'bbb' rating. This rating reflects the company's operational scale and proved reserves, both comparable with investment-grade international oil companies.
Additionally, Fitch expects Petrobras to continue reporting positive free cash flow over the rating horizon while investing enough to replenish reserves.
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