Petrobras announces that the rating agency Fitch has reaffirmed Petrobras’ outstanding debt ratings at BBB-, with a negative rating outlook. As such, Petrobras is still classified as “investment grade” by this agency.

The agency stressed in its report, that the Company’s rating is based on its leadership position in the Brazilian energy market, its recognized expertise in offshore exploration and production and its strategic importance to Brazil.

It also highlighted that, as of June 2015, Petrobras maintained ample liquidity supported by approximately USD 30 billion of cash and marketable securities.

Fitch considers that the Company’s risk level continues to be linked with sovereign risk, due to the government’s control of Petrobras.