Saturday, September 6, 2025

S&P Downgrades Brazil’s Petrobras to Junk Status

Story by The Wall Street Journal Standard & Poor’s Ratings Services downgraded Brazil’s state-run oil firm Petroleo Brasilero SA to junk status Thursday, along with a slew of other state-run companies, following the downgrade to junk status of Brazil’s sovereign debt. After downgrading Brazil’s sovereign debt into junk territory Wednesday, S&P loweredPetrobras’ ratings two notches, from BBB- to BB. Its