NEW YORK (TheStreet) -- Shares of Petrobras (PBR) were gaining in mid-morning trading on Monday as Moody's Investors Service upgraded all ratings on the company to "B2" from "B3" and raised its outlook to "stable" from "negative."

Moody's late Friday cited lower liquidity risk and prospects of better operating performance in the medium term, according to a statement. This was the first ratings upgrade for Petrobras in five years.

Additionally, the Brazilian state-owned oil company on Friday settled four lawsuits with Pacific Investment Management, Dodge & Cox, Janus Capital and Al Shams Investments related to the country's largest-ever corruption scandal, the Wall Street Journal reported.

The company said third-quarter results would reflect an expected $353 million to cover the agreements with the four firms and other deals that are being discussed, the Journal added.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.

The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow and feeble growth in its earnings per share.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PBR

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