Petrobras Credit Rating Lowered by S&P on Concern Debt Issuance to ...

June 10 (Bloomberg) -- Petroleo Brasileiro SA, Brazil ’sstate-controlled oil company, had its debt rating cut one levelto BBB- from BBB by Standard & Poor’s because of tighter futurecredit, S&P said today in a statement. The downgrade was triggered by more difficulty gainingaccess to credit measures S&P is forecasting for the next fiveyears as the Rio de Janeiro -based company known as Petrobrasimplements its 4.4 billion capital expenditures plan, theratings company said.

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