by Amruth Sundarkumar | Oct 15, 2021 | Corporates, High Yield Bonds
Brazilian President Jair Bolsonaro is now inclined to privatize Brazilian oil company Petroleo Brasileiro (Petrobras). The President added that he would discuss the idea with economic advisors in order to make a final decision and the decision comes after declaring he...
by Amruth Sundarkumar | Sep 30, 2021 | Corporates, High Yield Bonds
Brazilian state-run oil company Petrobras announced that China’s CNOOC is looking to acquire an additional 5% stake in production rights for Buzios, one of the largest oil-producing fields in Brazil, for $2.08bn. In 2019, Petrobras acquired 90% of the rights to...
by Amruth Sundarkumar | Sep 29, 2021 | Corporates, Credit Ratings
Brazilian state-owned oil major Petroleo Brasileiro S.A (Petrobras) has been upgraded to Ba1 from Ba2 by Moody’s given the company’s strong operating and financial performance coupled with solid credit metrics. Its baseline credit rating (BCA), which is...
by Amruth Sundarkumar | Aug 6, 2021 | High Yield Bonds
Brazil’s state-owned oil company Petrobras has agreed to sell its 36.1% stake in the petrochemical firm Braskem SA. Petrobras hired JPMorgan Chase & Co as an advisor for the sale. Petrobras and Brazilian conglomerate Novonor, previously known as Odebrecht, have...
by Amruth Sundarkumar | Aug 5, 2021 | High Yield Bonds
Brazilian oil major Petrobras reported a net profit of BRL 42.8bn ($8.29bn) vs. losses of -$2.7bn in 2Q2020 whilst also beating estimates of BRL $30.7bn ($5.9bn). Revenues were up 55% to $20.9bn in Q2 vs. $9.4bn in the previous quarter. Petrobras attributed its strong...
