Worse than expected: Moody’s cuts Petrobras two notches, maintains negative outlook

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Worse than expected: Moody’s cuts Petrobras two notches, maintains negative outlook

Oliver West
February 25, 2015 05:15 AM
Brazil, impeachment, Petrobras
Demonstrators take part in a protest march demanding the impeachment of Brazil's President Dilma Rousseff, recently re-elected, over an alleged scheme of corruption that siphoned money from the state-owned oil company Petrobras, in Sao Paulo, Brazil, Saturday, Nov. 15, 2014. Federal police on Friday sharply expanded what is becoming Brazil's biggest political kickback scandal, arresting top construction company executives and detaining another former director of the state-run energy company Petrobras. (AP Photo/Andre Penner) | Andre Penner/AP/Press Association Images

As some analysts had predicted, Moody's cut Petrobras's investment-grade rating from Moody’s on Tuesday. But that was just the start of the bad news for the Brazilian state-owned oil company.

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Oliver West
US Bureau Chief - Latin America Editor
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