🕐04.02.15 - 23:54 Uhr

PETROBRAS - PRESS RELEASE:=?UTF-8?Q20FITCH=20REVIEWS=20PETROB RAS’ GLOBAL RATINGS



 
 

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  Petrobras www.petrobras.com.br/ir  
 
Petrobras
 
  Fitch reviews Petrobras’ global ratings
 
 

Rio de Janeiro, February 4th, 2015 – Petróleo Brasileiro S.A.

– Petrobras informs that Fitch Ratings reviewed Petrobras debt ratings from BBB to BBB-, and has placed these ratings on Rating Watch Negative.

This grade keeps Petrobras as an Investment Grade Company.

According to Fitch, this revision reflects the increased uncertainty regarding Petrobras’ ability to record an adjustment to its fixed assets on a timely manner, increasing the risk that creditors could accelerate debt payments. 

This review is also related to the potential impact of the corruption investigations in production growth, since it may affect negotiations with suppliers and equipment availability, delaying de delivery of production platforms.

Moreover, Fitch affirms that Petrobras rating continues to reflect its strategic importance to Brazil and the support of the Brazilian Government, the Company´s controlling shareholder.
 

 

 
 
 
Petrobras | Investor Relations Departament www.petrobras.com.br/ir
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República do Chile, 65, Room 1002, Rio de Janeiro, RJ, Brazil / Zip code: 22031-912
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This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties.

The forward-looking statements, which address the Company’s expected business and financial performance, among other matters, contain words such as “believe,” “expect,” “estimate,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” and similar expressions.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.

There is no assurance that the expected events, trends or results will actually occur.

We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

The Company’s actual results could differ materially from those expressed or forecast in any forward-looking statements as a result of a variety of assumptions and factors.

These factors include, but are not limited to, the following: (i) failure to comply with laws or regulations, including fraudulent activity, corruption, and bribery; (ii) the outcome of ongoing corruption investigations and any new facts or information that may arise in relation to the “Lava Jato Operation”; (iii) the effectiveness of the Company’s risk management policies and procedures, including operational risk; and (iv) litigation, such as class actions or proceedings brought by governmental and regulatory agencies.  A description of other factors can be found in the Company’s Annual Report on Form 20-F for the year ended December 31, 2013, and the Company’s other filings with the U.S.

Securities and Exchange Commission.

 
 



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