Petrobras is recovering well, Minister says
Minister Eduardo Braga 
The withdrawal of Petrobras investment-grade rating by Standard & Poor's (S&P) is an additional challenge for the firm, evaluates Mines and Energy Minister Eduardo Braga, who, nevertheless, believes that "the worst is over." He stated that Petrobras is in recovery process showing "increasingly vast numbers and improving."
When asked if the firm would face difficulties to attract investment and loans abroad with the new S&P assessment, the minister said that Petrobras had stated that all its financing demand has been met.
Braga added that the downgrade was a consequence of the 2016 budget proposal presented by the government forecasting a deficit of $8.36 billion. "This will reinforce the need for the Brazilian government to not only make the necessary cuts, but also to effectively study new sources of revenue that the country will need to balance its fiscal adjustment," he mentioned.
S&P withdrew Petrobras investment-grade rating and lowered the rating of Petrobras and other 30 Brazilian entities on Thursday (Sep. 10) as a result of the downgrade of the country's credit rating.
Translated by Amarílis Anchieta
Fonte: Petrobras is recovering well, Minister says
