...- Brazilian oil and gas exploration and production company Petro Rio S.A. announced the closing of its acquisition of the Albacora Leste field on Jan. 26, 2023, significantly increasing daily production and reserves, in line with our expectations. - We think the company will maintain an adequate liquidity position through rising internal cash generation with the integration of the new asset, even after the $1.6 billion payment to Petrobras. - On Jan. 27, 2023, S&P Global Ratings raised its long-term global scale rating to '##-' from 'B+' and national scale rating to 'brAA+' from 'brAA' on Petro Rio. We also affirmed the short-term 'brA-1+' national scale rating. - In addition, we raised our issue rating on the senior secured notes to '##' from '##-', with a '2' recovery rating. We also raised the national scale issue rating on company's debentures to 'brAA+' from 'brAA', with a '3' recovery rating. - The outlook is stable, indicating that we expect the company will continue increasing efficiency...
