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Fitch: Real's Depreciation to Pressure Petrobras' Cash Flow Generation Absent Price Increase

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CHICAGO--(BUSINESS WIRE)--Petrobras' EBITDA could fall from an annualized rate of approximately USD27.9 billion for the first half of 2015 (1H15) to an annualized rate of USD23.6 billion for 2H15 at the current exchange rate of BRL3.5 per dollar, according to Fitch Ratings. The company reported total financial debt of approximately USD134 billion. Fitch expects company leverage to remain above 5x should the current exchange rate prevail throughout 2H15 and the company keeps liquid fuel prices u

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