Petrobras scandal to claim first victim as agencies see OAS default

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Petrobras scandal to claim first victim as agencies see OAS default

Oliver West
January 06, 2015 12:00 pm
Petrobras, Paulo Roberto Costa
Paulo Roberto Costa, former director of the Brazilian Oil Company Petrobras, gives testimony before the Joint Parliamentary Committee of Inquiry of the Senate on Petrobras Curruption, at the National Congress in Brasilia, Brazil, Wednesday, Sept. 17, 2014. Costa, who had become an associate justice and is currently detained in prison stands accused of alleged money laundering, and recently revealed that Petrobras was allegedly involved in a scheme of bribes to various Brazilian politicians. (AP Photo/Eraldo Peres) | Eraldo Peres/AP/Press Association Images

Brazilian engineering and construction group OAS was hit by a triple downgrade on Monday after missing a January 2 $16m coupon payment on its $400m of senior unsecured bonds that mature in 2021.

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Oliver West
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