New York, October 21, 2016 -- Moody's Investors Service (Moody's) upgraded all ratings of Petroleo Brasileiro S.A. (Petrobras)'s and ratings based on Petrobras' guarantee, including the company's senior unsecured debt and corporate family rating (CFR), to B2 from B3 given lower liquidity risk and prospects of better operating performance in the medium term. At the same time, Moody's raised the company's baseline credit assessment (BCA) to b3 from caa2.
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