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Petrobras bondholders brace for more losses

Petrobras's notes sank further last Friday after Mr Bendine was picked to run the Brazilian state-run oil company.

New York

THE corruption scandal battering Petrobras has already cost bondholders US$4 billion. With the oil producer facing billions of dollars in writedowns, investors are bracing them-selves for even more pain.

Petroleo Brasileiro SA's US$41 billion of dollar-denominated debt has