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PBR » Topics » Developments and the perception of risk in other countries, especially in the United States and in emerging market countries, may adversely affect the market price of Brazilian securities, including our shares and ADSs, and limit our ability to finance ouThis excerpt taken from the PBR 20-F filed May 22, 2009. Developments
and the perception of risk in other countries, especially in the
United States and in emerging market countries, may adversely
affect the market price of Brazilian securities, including our
shares and ADSs, and limit our ability to finance our
operations.
The market value of securities of Brazilian companies is
affected to varying degrees by economic and market conditions in
other countries, including the United States and other Latin
American and emerging market countries. Although economic
conditions in these countries may differ significantly from
economic conditions in Brazil, investors’ reactions to
developments in these other countries may have an adverse effect
on the market value of securities of Brazilian issuers. Crises
in other countries or economic policies of other
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countries may diminish investor interest in securities of
Brazilian issuers, including ours. This could adversely affect
the market price of our shares and ADSs, and could limit our
ability to finance our operations.
The recent global financial crisis has had significant
consequences worldwide, including in Brazil, such as stock and
credit market volatility, unavailability of credit, higher
interest rates, a general slowdown of the world economy,
volatile exchange rates and inflationary pressure, among others,
which have and may continue to, directly or indirectly,
adversely affect our operating results, financial position and
the price of securities issued by Brazilian companies.
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