SAO PAULO, April 15 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA will be able to navigate 2015 without tapping debt markets thanks to its strong cash position, a Fitch Ratings analyst said on Wednesday.
But Petrobras, as the company is known, may not have the same favorable cash position next year, warned Lucas Aristizabal, head of oil and gas ratings for Latin America at Fitch.
Fitch downgraded Petrobras ratings to BBB-minus from BBB in the beginning of February. The new rating is on watch negative, meaning another downgrade is possible in the next few months. (Reporting by Guillermo Parra-Bernal; Editing by Ted Botha)