Petrobras says has no plans to increase capital, convert debt
RIO DE JANEIRO, April 23 (Reuters) - Brazil's state-run oil company Petrobras currently has no plans to increase capital or convert debt to equity after taking a $17 billion write-down in the wake of a massive corruption scandal, a company executive told investors on a phone conference on Thursday.
Many analysts expect Petroleo Brasileiro SA, as the company is formally known, to resort to a capital increase in the next few months to support its investment plan. (Reporting by Stephen Eisenhammer, writing by Walter Brandimarte; Editing by Chizu Nomiyama)
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