(Petrobras, 7.May.2020) — Petrobras informs that the rating agency Fitch Ratings revised today the company’s international long-term ratings outlook from stable to negative, and maintained the ratings of Petrobras at “BB-“.
This week the agency revised the sovereign rating outlook due to uncertainty over the duration and intensity of the Covid-19 pandemic in Brazil. According to Fitch, these factors could hinder the capacity for fiscal adjustment and implementation of economic reforms in the country.
As a result, Fitch changed today from stable to negative the rating outlooks of all entities whose risk levels are directly linked to the country´s sovereign ratings.
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