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#saxostrats - Why Petrobras is worth the risk

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Petrobras, the Brazilian state-run oil company, is still dealing with a huge corruption scandal as well as low energy prices. The company was once worth USD 310 billion in 2008 but is now valued at just USD 48 billion.

Despite the gloom, Saxo's Michael Boye says the company is worth a look, because its bonds are offering higher yields than comparable single B-rated non-financials. 

He also adds that the company's revised earnings are expected to be released next week.