Petroleo Brasileiro (PBR)

[RichL74]

My APR 100 have gone over 50% over the span of December. Has anyone followed this stock? All good things must come to an end, but when will this ride end? Should I factor the possible instability in the Middle East with Saddam's execution?

[RichL74]

I know this is old news, but for those that have not read it, something to think about as institutions begin to re-balance their funds.

SAO PAULO, Jan 19 (Reuters) - Brazilian oil giant Petrobras (PETR4.SA: Quote, Profile , Research)(PBR.N: Quote, Profile , Research) late on Thursday received an investment grade rating by Standard & Poor's, a move seen as likely to help reduce the company's borrowing costs and increase the pool of investors that can buy its securities.

S&P rated Petrobras local and foreign currency long-term credit rating BBB-, the lowest in the investment grade category and two notches above Brazil's BB rating. Petrobras had no previous rating by S&P.

Petrobras became the country's first state-controlled company to earn investment grade rating.

Many global investment funds' limit their investments in securities that are rated below investment grade. Higher credit ratings tend to lower a creditor's borrowing costs.


The ratings reflect Petrobras "satisfactory business risk profile, characterized by the quality of its exploration and production activities and a dominant market position in all aspects of the Brazilian hydrocarbon industry," S&P said in a statement.