August 5, 2016 / 7:17 PM / 2 years ago

Fitch Withdraws Petroleo Brasileiro S.A.'s Local Debenture Rating

(The following statement was released by the rating agency) CHICAGO, August 05 (Fitch) Fitch Ratings has withdrawn its 'AA+(bra)' rating on Petroleo Brasileiro S.A.'s debenture issuance of up to BRL3 billion. The withdrawal of the rating follows Petrobras' cancelation of the issuance. As there is no set time frame for resuming the issuance process, no rating is required at this time. FULL LIST OF RATING ACTIONS Fitch currently rates Petrobras as follows: Petroleo Brasileiro S.A. --Long-Term Foreign-Currency IDR 'BB'; Outlook Negative; --Long-Term Local-Currency IDR 'BB'; Outlook Negative. Petrobras International Finance Company (PIFCO) --International debt issuances 'BB'. Petrobras Global Finance B.V. (PGF) --International debt issuances 'BB'. Petrobras Argentina S.A. --International debt issuances 'BB'. Contact: Primary Analyst Lucas Aristizabal Senior Director +1-312-368-3260 Fitch Ratings, Inc. 70 West Madison Street Chicago, IL 60602 Secondary Analyst Mauro Storino Senior Director +55-11-4504-2625 Committee Chairperson Daniel R. Kastholm, CFA Managing Director +1-312-368-2070 Media Relations: Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email: Date of Relevant Rating Committee: May 18, 2016 Additional information is available at ''. Applicable Criteria Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage (pub. 17 Aug 2015) here Additional Disclosures Solicitation Status here Endorsement Policy here ail=31 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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