Petrobras cuts debt to 'comfortable' level

Petrobras cuts debt to 'comfortable' level

Corporate & Sovereign Strategy Economy & Policy Equity Brazil Capital Markets Debt

Brazil's state-run oil company Petrobras has slashed debt to "comfortable" levels over the past year by repurchasing bonds and pressing ahead with asset sales, analysts said after the oil company posted its first quarter results. "They have a capital structure that is very comfortable from a financial point of view. It is better than most companies," Pedro Galdi, investment analyst at Brazilian asset management firm Mirae, told LatinFinance. Petrobras cut net debt by 31.4% to $40.1 billion at th

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