Moody’s Affirms Egypt’s B3 Rating
Monday, 22nd August 2016
Moody’s Investor service affirmed Egypt’s long term and senior unsecured bond rating at a stable B3 in which credit risks face deep structural concerns such as weak government reserves, weak external payment position, and continued security concerns.
Moody’s Reviews Oil and Gas Companies for Potential Downgrade
Sunday, 24th January 2016
Moody's, the ratings agency announced that it had put 120 oil and gas companies, together with 55 mining companies, under review for a potential downgrade, due to a prolonged slump in crude oil price. The review is expected to be completed by the end of Q1.
Brazilian Petrobras Slashes Production, Capital, Investment Plans
Wednesday, 13th January 2016
Brazil's state-run oil producer, Petróleo Brasileiro SA (Petrobras), has slashed its production targets by 1.8% to 2.1mb/d and capital spending budget by 24.5% to $98.4m in the period between 2015-2019.