The ratings agency downgraded the company to Baa1 from A3 and maintained its negative outlook this week as it also trimmed ratings on Brazil's government debt and numerous banks on currency exchange concerns.
"We see Petrobras's leverage to be nearing peak levels in 2013 and 2014, significantly higher than those of its industry peers and only likely to decline in 2015 and beyond," Thomas Coleman, senior vice president at Moody's, said in a statement.
"Successful
