Brazil Bribery Probe Threatens Petrobras’s Debt Financing
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The widening corruption probe at Petroleo Brasileiro SA is threatening to impair its ability to finance the world’s biggest oil investment plan.
The state-controlled producer, which delayed releasing third-quarter earnings because of an investigation into alleged bribery involving contracts, said Nov. 13 it plans to publish unaudited statements within a month. Bank of America Corp. said Petrobras may have difficulties borrowing in international debt markets until it provides results that have been audited.