Dear Mr/Mrs Ramin Farzanehfar,
S&P upgrades Petrobras’s credit rating
Rio de Janeiro, November 18, 2011 – Petróleo Brasileiro S.A.
– Petrobras informs that the rating agency Standard & Poor’s (S&P) announced the upgrade of Petrobras’s global scale corporate credit rating from BBB- to BBB.
This assessment was extended to all global notes issued by Petrobras International Financial Company (Pifco), a wholly subsidiary of Petrobras, which are also evaluated as BBB.
The Agency views the upgrade as a result of the recent upgrade of the rating of the Brazilian sovereign rating.
The upgrade should contribute to an increase in Petrobras’s investor base and to an improvement in funding conditions.
Petrobras reasserts its commitment to maintain its capital structure within investment grade level.
Sincerely,
Investor Relations.
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www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S.
A.
- PETROBRAS
Investor Relations Department I E-mail: /
Av.
República do Chile, 65 – 22nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947
This document may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that merely reflect the expectations of the Company’s management.
Such terms as
“anticipate”, “believe”, “expect”, “forecast”, “intend”, “plan”, “project”, “seek”, “should”, along with similar or analogous expressions, are used to identify such forward-looking statements.
These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company.
Therefore, the future results of operations may differ from current expectations, and readers
must not base their expectations exclusively on the information presented herein.
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