For Moody's, Petrobras already has liquidity to face crisis

According to the moody's report released last Monday (14), Petrobras has already secured sufficient financing to face the current coronavirus crisis and should not face liquidity problems in the coming quarters.

According to the agency, the Brazilian state company, which announced measures such as investment cuts and postponement of dividend payments to shareholders to face the pandemic scenario, also asked banks to disburse 8 billion dollars of credit lines compromised due in 2023 and 2024, in addition to having raised 3.25 billion dollars with securities abroad that expire in 2031 and 2050. 

In addition, the company has also raised $1.7 billion in new credit lines. Analysts also highlighted the company's announced spending cuts and the postponement of dividends until the end of 2020. "We do not expect Petrobras to need additional external funding (to these values)," they pointed out

"The company does not have oil hedges (operations to protect against price change) and its refining cash flow will not offset lower oil prices due to the lockdown associated with the pandemic that reduces fuel demand. But we expect the company to continue selling assets and generating positive cash flow," analysts said. 

ACESSE AS REDES DA PANORAMA OFFSHORE:

Leave a Reply