The report discusses Petrobras' financial challenges and strategies, including capex and opex cuts, domestic price increases, and a divestment program. It highlights concerns about Petrobras' ability to manage debt maturities and the potential impact of selling majority stakes. The report upgrades Petrobras 3.25% and 3.5% '17s bonds to Buy due to attractive yields.
doj/DataSet10/EFTA01378478.pdf
{"title":"Buy the '17s; Rest of Curve Is Neither Steep Nor Low-priced Enough","key_people":["Eduardo Vieira"],"document_date":"2015-10-07","document_type":"correspondence","key_locations":["Brazil"],"document_subtype":"research report","key_organizations":["Deutsche Bank","Petroleo Brasileiro S.A. (Petrobras)"]}