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Dilma Rousseff
Morgan Stanley sees Petrobras scandal write-offs of up to $8.1 billion
Morgan Stanley sees Petrobras scandal write-offs of up to $8.1 billion

SAO PAULO (Reuters) - Petróleo Brasileiro SA could slash the value of its assets by as much as 21 billion reais ($8.1 billion) and cut dividends as a result of an ongoing investigation into alleged graft and money-laundering at Brazil's state-controlled oil producer, analysts at Morgan Stanley & Co said in a client note. Analyst Bruno Montanari put the price target for U.S.-traded shares of Petrobras, as the company is known, under review and was reassessing earnings estimates as a consequence of the scandal. The note was obtained by Reuters on Wednesday. An internal investigation, which Chief Executive Maria das Graças Foster kicked off as federal prosecutors found evidence...

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