Rio de Janeiro – Rating agency S&P raised the credit rating of Petrobras, the Brazilian state-owned company reported on Wednesday (20). The company went from BB- to BB, with a stable outlook.
Petrobras had been rated -BB since April 17, 2020. The grade of the agency ranges from D to AAA (D, C, CC, CCC, B, BB, BBB, A, AA, and AAA), with – (minus) and + (plus) signs for intermediate ratings. The closer to AAA, more secure is the investment according to the agency.
Over BBB, the rating is considered an “investment rating”, which means that it is secure.
According to Petrobras, the rating reflects the improvement in the rating of Brazil, which went from BB- to BB on the 19th, after having been rated BB- for nearly six years.
Translation by Guilherme Miranda
