S&P warns on Petrobras liquidity

S&P warns on Petrobras liquidity

Bonds Corporate & Sovereign Strategy

Standard & Poor’s said it judges liquidity at Petrobras to be “less than adequate” as it cut its stand-alone credit profile on the company to bb, from bbb-, on Tuesday. The ratings agency held Petrobras’ BBB- corporate credit rating stable, owing to the “very high likelihood” that the government would support it if the oil company hit financial distress. But S&P cut the stand-alone rating based on potentially weaker liquidity, funding access and cash flow as a result of investigations into corru

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