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Brazil’s Petrobras Rating Downgraded to Junk Status

By Lisa Flueckiger, Contributing Reporter

RIO DE JANEIRO, BRAZIL – International rating agency Moody’s has downgraded the rating of Brazil’s oil giant Petrobras to Ba2, two grades below investment grade status, on Tuesday February 24th. This is the second downgrading of the company in less than a month.

Petrobras, currently involved in a large-scale corruption and money laundering scandal, have had Subscribe to our Premium Membership Plan. Already Subscribed?

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