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Actionable news in PBR: PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE),

Petrobras (PBR) Stock Higher, Moody's Upgrades

NEW YORK (TheStreet) -- Shares of Petrobras (PBR) were gaining in mid-morning trading on Monday as Moody's Investors Service upgraded all ratings on the company to "B2" from "B3" and raised its outlook to "stable" from "negative."

Moody's late Friday cited lower liquidity risk and prospects of better operating performance in the medium term, according to a statement. This was the first ratings upgrade for Petrobras in five years.

Additionally, the Brazilian state-owned oil company on Friday settled four lawsuits with Pacific Investment Management, Dodge...


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