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PBR » Topics » The Insurance and Reimbursement Agreements

This excerpt taken from the PBR 20-F filed Jun 30, 2005.

The Insurance and Reimbursement Agreements

 

Each of the 2001 series and the 2003 B series of Senior Trust Certificates features credit enhancement by means of a financial guaranty insurance policy. See Item 4. “Information on the Company—PIFCo Business Overview—Exports Prepayment Programs.”

 

The parties also entered into Insurance and Reimbursement Agreements pursuant to which, among other things, the Trustee has agreed to reimburse, with interest, MBIA, Ambac and XL Capital Assurance Inc., as applicable, for amounts paid pursuant to claims made under their respective financial guaranty insurance policies.

 

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Table of Contents
ITEM 11. QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK

 

Petrobras

 

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