May 23rd, 2016

Our client Cedric Rimaud quoted in this story:

Debt research firm Gimme Credit warned in a Friday report that despite market optimism over Rousseff's exit and expectations for a more investment-friendly atmosphere in Brazil, which could benefit Petrobras, headwinds abound.

"Petrobras is working hard to contain its deteriorating credit metrics, but not hard enough," the report asserted. Gimme Credit criticized the lack of progress on asset sales to reduce debt, and cautioned that it expects Brazil's economy to remain in a recession for another year, which will hinder Petrobras' prospects for sales growth.

 

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