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Fitch upgrades Petrobras’ standalone credit profile to bbb+ from bbb
PBRPetrobras - Petroleo Brasileiro SA
Rating agency Fitch upgraded Petrobras' Standalone Credit Profile (SCP) from 'bbb' to 'bbb+', citing improved governance, board oversight, and transparency. The upgrade reflects the company's robust reserves, production scale, strong cash flow generation, and low leverage, placing it on par with investment-grade international oil companies. Fitch affirmed the global-scale credit rating at 'BB' with a Stable Outlook and the national-scale rating at 'AAA(bra)' with a Stable Outlook. This is the first SCP upgrade from Fitch since 2020. Petrobras operates in the integrated oil and gas industry, engaged in exploration, production, refining, and distribution of petroleum products.