Petrobras Holders Seen Supporting Neves in Runoff: Brazil Credit

October 7, 2014 6:20 PM

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Petrobras Holders Seen Supporting Neves in Runoff: Brazil Credit

When it comes to Brazil’s presidential election, you’d be hard-pressed to find bondholders watching more closely than those of Petroleo Brasileiro SA. (PETR4)

Bonds from the state-controlled oil producer gained after Aecio Neves, who has challenged President Dilma Rousseff’s fuel-price caps that have cost Petrobras billions of dollars, surprised analysts to take second place in first-round voting over the weekend to force a runoff. The rally pushed down y...

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