The ratings agency wrote that the downgrade reflects "increasing concern about corruption investigations" and also Petrobras' liquidity and debt burden, which is about $100 billion.
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Economia
Petrobras na categoria de lixo
Brazil oil firm Petrobras downgraded to junk status
By BRAD BROOKS RIO DE JANEIRO (AP) — Brazil's state-run oil company Petrobras' debt was downgraded to junk status on Tuesday by Moody's Investors Service.
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