Rousseff: Petrobras Downgrading Shows "Lack of Knowledge"

02/26/2015 - 08h51

Embroiled in the worst crisis her administration has had to face, President Dilma Rousseff said on Wednesday (25) that the downgrading of Petrobras' investment grade displayed a lack of knowledge about events at the company.

"I think [the downgrading] shows a lack of direct knowledge about what is going on at Petrobras. I have no doubt that Petrobras has the capacity to recover without serious consequences", Rousseff said, after a ceremony to mark the handover of social housing in Feira de Santana, in Bahia.

On Tuesday (24), risk classification agency Moody's downgraded Petrobras by two ratings, meaning that the company has lost its investment grade - an indication that the company is a safe place in which to invest.

Translated by TOM GATEHOUSE

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	Roberto Stuckert Filho/PR
	Rousseff participated in a ceremony to mark the handover of social housing in Feira de Santana, in Bahia