Petrobras bonds hold firm after upgrade

Petrobras bonds hold firm after upgrade

Brazil Bonds

Petrobras' existing notes have remained firm in secondary trading after S&P Global Ratings upgraded the state-owned oil company's ratings to BB- from B+, sources told LatinFinance. The Brazilian company's 6.125% 2022s were seen yielding in the 5% area, while its 7.375% 2027s, issued last month, were seen in the 6% to 6.5% area, one debt capital markets banker said. "These bonds have performed well since they were issued and the upgrade didn't have much of an impact since it wa

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