Traders Still Selling Petrobras (PBR) Shares Amid Debt Concerns, UBS Downgrade on Preferred

Shares of Brazil's Petrobras (NYSE: PBR) are falling rather sharply today as we have several news items weighing on the stock. At last check, Petrobras shares were down 4.6% to $39.11.

• Analysts are now discussing a possible credit rating downgrade amid rumors that Petrobras could be considering raising the borrowing base of its $200 billion investment plan. Petrobras bonds are now yielding the most versus Brazilian government debt since mid-to-late 2009.
  
• UBS downgraded its investment rating on Petrobras' preferred shares from Buy to Neutral this morning, citing concerns related to, similarly, higher spending and lower returns.

Moreover, today's market worries follow a downgrade from JPMorgan yesterday. The firm now rates shares of Petrobras a Neutral.

To track all of the market-moving upgrades/downgrades on shares of Petrobras, visit our Analyst Ratings page.

Petroleo Brasileiro SA-Petrobras is an integrated oil and gas company.

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