Luciana Otoni

2 weeks ago | worldenergynews.com | Luciana Otoni |Chizu Nomiyama |Eric Haun

Brazil currently has no plans to capitalize Petrobras despite market fears the state-run oil company could need fresh capital after Moody's cut its credit rating to junk, two government officials told Reuters on Wednesday. Moody's Investors Service cut Petrobras' rating late on Tuesday by two notches to Ba2 from an investment grade Baa3 and kept the firm on review for further downgrade, citing concerns over an ongoing corruption scandal and liquidity pressures.