UPDATE 1-Petrobras results lift Brazilian bonds

April 23, 2015 6:34 PM

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NEW YORK, April 23 (IFR) - Brazil's Petrobras has eliminated a looming threat of a full rating downgrade to junk by releasing its audited results and cleared the way for this year's first bond issues out of the country.

Brazilian corporate bonds were on a tear Thursday morning after oil company Petrobras avoided a covenant breach with the late Wednesday publication of its long-awaited audited results for 2014.

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