Petrobras results lift Brazilian bonds

April 23, 2015 3:04 PM

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NEW YORK, April 23 (IFR) - Brazilian corporate bonds were on a tear Thursday morning after oil company Petrobras avoided a covenant breach with the release of its long-awaited audited results for 2014.

By satisfying covenant deadlines for reporting financials, Petrobras has avoided a debt acceleration that may have resulted in government intervention - a move that in itself could have impacted Brazil's credit standing.

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