Petrobras Set to Lever Up

Petrobras Set to Lever Up

People Corporate & Sovereign Strategy

Petrobras plans to significantly increase its leverage ratio over the next several years as it raises funds necessary to extract oil from its most recent discoveries. CEO Jose Sergio Gabrielli says the state-controlled producer can expect to eventually have a 25%-35% debt ratio, up from 17% at the moment. He adds that Petrobras will announce the amount it needs to raise when it details a revised strategic plan in the second half of the year. The official does not see a big change in the sources

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