Sep 26 2016, 12:24 ET | About: Petrobras - Petroleo Brasil... (PBR) | By: Carl Surran, SA News Editor Contact this editor with comments or a news tip
Petrobras (PBR -0.3%) is stepping up efforts to sell assets, CFO Ivan Monteiro says, as the company seeks to raise confidence among bond investors in its turnaround plans.The CFO says the company will meet with fixed income and equity investors in Europe and the U.S. next month to present the business plan and highlight the success it has had divesting peripheral assets.Monterio also says ratings agencies eventually will take into account PBR’s improved finances, and expects to regain its investment grade rating in the coming years. and that the company has enough cash to avoid tapping capital markets in the next two years.On Friday, PBR agreed to sell a 90% stake in a gas distribution network for $5.2B, the company’s biggest sale to date.
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