MercoPress. South Atlantic News Agency
Moody's downgrades Petrobras credit rating; warns of difficulties to raise cash through asset sales
Moody's Investors Service has lowered Brazilian state-controlled oil company Petrobras' credit rating further into junk territory and warned of a possible further downgrade. “These rating actions reflect Petrobras' elevated refinancing risks in the face of deteriorating industry conditions that make it more difficult to raise cash through asset sales,” the New York-based ratings agency said Wednesday. Read full article
Comments
Disclaimer & comment rulesThat does not make any difference. It is a monstrous insignificance.
Dec 14th, 2015 - 10:35 am - Link - Report abuse 0Brazil is a country that lives of the production and not of the speculation as the swollen United States.
Depends on the asset being sold and if more than one buyer really wants it.
Dec 14th, 2015 - 11:45 am - Link - Report abuse 0You would think Moody's would know that.
The rating agency may even know, but it will always give a negative bias to undermine the strength of Petrobras and the Brazilian government. And thus serve the interests of international investment funds and the US government.
Dec 14th, 2015 - 12:22 pm - Link - Report abuse 0Market Cap of just over U$16B with U$ 120B in debt.
Dec 14th, 2015 - 12:29 pm - Link - Report abuse 0They're bankrupt and just don't realize it yet.
When oil gets into the $20s they'll figure it out pretty quickly.
Brazil can't afford to bail them out
Brazil's going down in flames and will probably bring the rest of South America down with it. Brazil has narrowly avoided a recession, all the corruption and scandal that dates back from Lula's days are finally catching up, the currency has fallen to nearly unprecedented lows, Brazil's inflation is increasing almost daily, the government is raising taxes, on an already highly taxed country, and Brazil's GDP is decreasing every quarter.
Dec 14th, 2015 - 12:55 pm - Link - Report abuse 0I remember just a few years ago the trolls on here were saying that South America were going to show the world the light and were going to teach us all how to manage our economies correctly. Oh how the tables have turned, South America is still affected by the same old corruption the same old boom and bust and the same old incompetence.
Meanwhile, unemployment in the UK is falling, inflation is at 0 %, the economy is growing, and our GDP is increasing, as well as our native and migrant population.
Brasileiro, please feel free to borrow ideas from the UK as to how to get back on track. By all means you can discuss Britain's rise and rise with President Macri as well and also the Argie trolls on here - who must surely be eating their words now right???
Bye bye Brazil, we might see you in the top 5 world economies again one day. The UK will keep your seat warm for you!!!
@4
Dec 14th, 2015 - 01:06 pm - Link - Report abuse 0Which market value? The stock market? The stock market has no value for us Brazilians. Petrobras by assets worth more than all US companies combined!
6. Then it should be easy for PBR to pay off its huge debt.
Dec 14th, 2015 - 01:23 pm - Link - Report abuse 0They're going bankrupt soon. They're at U$4 share today, heading to 3.
As PBR goes so does Brazil.
Certainly. And Brazil and your people will continue making efforts to achieve our goals. With better governance, more productivity and less corruption.
Dec 14th, 2015 - 01:36 pm - Link - Report abuse 0http://time.com/4054262/drought-brazil-video/
Dec 14th, 2015 - 02:06 pm - Link - Report abuse 0I think the massive increase in clear cutting for farming has destroyed the weather patterns for good in Brazil. Year after year they hope for water to fill the resevoirs and it doesn't rain. It won't be long now.
travellingscotsman
Dec 14th, 2015 - 02:09 pm - Link - Report abuse 0You blithely tar all of South America with one brush called Brazil.
The truth is much less simplistic. Not all countries will go down in flames with Brazil simply because economic integration is so low on that continent.
@9 I think no problem. But if there is lack of rain is good to remember that we have the two largest aquifers in the world at our disposal and that have not been touched.
Dec 14th, 2015 - 02:23 pm - Link - Report abuse 0@10 You're absolutely right! And in my opinion this is a very strong point in the current international scenario of pure instability. Especially considering that Brazil has a huge internal market.
11. Having aquifers 1000s of miles away and no planning or $ to get the water to the people won't do the people any good. They'll be long dead before they ever see a drop of that water.
Dec 14th, 2015 - 02:32 pm - Link - Report abuse 0It will be intesting to watch what happens when a mega-city has no water. Very interesting indeed.
I doubt Dilma will make it much longer. She clearly fudged the numbers and everyone knows it. For the good of the country she should step down so she's not a distraction any longer
@12 Has a saying that it say the necessity makes the virtue. With respect to Dilma we know that there is a great interference of US government and your companies in our internal affairs. This is unacceptable and the polls in 2018 showed that huge dissatisfaction of the Brazilian people in relation to candidates who support a rapprochement with the United States.
Dec 14th, 2015 - 02:45 pm - Link - Report abuse 013. Well the Brazilians thought they were the equal of the USA but again they were proven not to be although they were the only ones who thought that anyway.
Dec 14th, 2015 - 02:56 pm - Link - Report abuse 0Your poverty will skyrocket as the poor who pretended to be middle class go back to being poor and they drag a lot of the real middle class right along with them.
BRAsshole (with an endless amount of shit in his head)
Dec 15th, 2015 - 04:18 pm - Link - Report abuse 0Your statements are all lies......just to pick one, so as to not waste too much time on you, at #6 , “Petrobras by assets worth more than all US companies combined!”.......how do you come up with such crap ? everything you write is based on the bs the PT feeds you and that you gobble up.
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