S&P Assigns BBB- Rating to Petrobras

Standard & Poor's (S&P) has assigned a BBB- long-term corporate credit rating to Brazil's federal energy company Petrobras (NYSE: PBR) with a stable outlook, S&P said in a statement.

"The ratings on Petrobras are above the ratings on the Federative Republic of Brazil, the company's controlling shareholder," S&P credit analyst Jean-Pierre Cote-Gil said.

The rating largely reflects Petrobras' E&P profile and dominant market position, according to S&P.

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