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Investors are worried about Petrobras after Lula da Silva’s election, says Fitch

For the rating agency Fitch, the possible changes in the management of Petrobras are one of the biggest concerns of investors after the election of Luiz Inácio Lula da Silva to the Presidency of the Republic.

"The election of da Silva worries investors, given his past with the company. Lula da Silva was implicated in Operation Lava Jato, which investigated alleged receipt of bribes by executives to sign contracts with construction companies at inflated prices," wrote Saverio Minervini, Fitch's senior director in Brazil, in a report released Friday, Nov. 4.

"The then ex-president was convicted of money . . .

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