Petrobras: Fitch lifts standalone credit profile to bbb+
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
PETROBRAS (PBR) said Fitch upgraded its Standalone Credit Profile from “bbb” to “bbb+”, citing governance and management, a clearer track record of Board oversight and transparency, and operational and financial performance supported by robust reserves, production scale, strong cash flow generation and low leverage. Fitch said the profile is comparable to that of investment-grade international oil companies; Petrobras had not received a standalone-profile upgrade from Fitch since 2020.
Fitch affirmed the company’s global-scale credit rating at “BB” and national-scale rating at “AAA(bra)”, each with a Stable Outlook.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointFitch raised Petrobras’ standalone profile to bbb+.
Negative
- None.
Key Figures
Key Terms
Standalone Credit Profile financial
global-scale credit rating financial
national-scale rating financial
Stable Outlook financial
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private
Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of November, 2026
Commission File Number 1-15106
PETRÓLEO BRASILEIRO S.A. – PETROBRAS
(Exact name of registrant as specified in its charter)
Brazilian Petroleum Corporation – PETROBRAS
(Translation of Registrant's name into English)
Avenida Henrique Valadares, 28 – 9th floor
20231-030 – Rio de Janeiro, RJ
Federative Republic of Brazil
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
Fitch upgrades Petrobras’ Standalone Credit Profile
—
Rio de Janeiro, November 4, 2026 – Petróleo Brasileiro S.A. - Petrobras informs that rating agency Fitch upgraded the company’s Standalone Credit Profile (SCP) from ‘bbb’ to ‘bbb+’, reflecting an improvement in the company’s intrinsic credit quality. Petrobras had not received an upgrade to its standalone profile from Fitch since 2020.
According to the agency, the upgrade to Petrobras’ SCP reflects the effectiveness of the company’s governance and management, supported by a clearer track record of Board oversight and transparency. The report also highlights the company’s operational and financial performance, supported by robust reserves, production scale, strong cash flow generation and low leverage, which place Petrobras at a level comparable to that of investment-grade international oil companies.
Fitch also affirmed Petrobras’ global-scale credit rating at ‘BB’, with a Stable Outlook, and its national-scale rating at ‘AAA(bra)’, with a Stable Outlook.
www.petrobras.com.br/ir
For more information:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations
Email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br
Av. Henrique Valadares, 28 – 9th floor – 20231-030 – Rio de Janeiro, RJ.
Tel.: 55 (21) 3224-1510/9947
This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: "anticipates", "believes", "expects", "predicts", "intends", "plans", "projects", "aims", "should," and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: November 4, 2026
PETRÓLEO BRASILEIRO S.A–PETROBRAS
By: /s/ Fernando Sabbi Melgarejo
______________________________
Fernando Sabbi Melgarejo
Chief Financial Officer and Investor Relations Officer