South America

Results for South America

Brazil’s Rio de Janeiro State Misses Debt Payment

The state of Rio de Janeiro missed an $8.4 million payment to an international creditor as a debt crisis in Brazil’s state governments deepened amid what the federal Finance Ministry has called “out-of-control personnel expenditures,” The Wall Street J ...

Daily Headline - global.abi.org - 05/26/2016 - 00:54 - 0 comments

Argentina’s Congress Passes ‘Anti-Layoffs’ Bill

Argentina’s opposition-dominated Congress on Thursday approved legislation that would double the cost of laying off private and public employees over the next six months, handing President Mauricio Macri his first legislative setback since taking office, ...

Daily Headline - global.abi.org - 05/20/2016 - 09:39 - 0 comments

Demand For Brazil Corporate Loans Sinks In April

Demand for loans among Brazilian companies slumped in April, credit research company Serasa Experian said on Wednesday, a sign that the highest borrowing costs in nine years and the harshest recession in eight decades hampered their ability to take on fr ...

Daily Headline - global.abi.org - 05/18/2016 - 21:02 - 0 comments

Brazil's Recession Puts Focus On Smaller Banks

Smaller corporate lenders are better positioned to weather Brazil's worst recession in decades, but need to be monitored closely as clients grapple with soaring defaults and bankruptcy filings, the head of the nation's deposit guarantee fund sa ...

Daily Headline - global.abi.org - 05/11/2016 - 22:34 - 0 comments

Brazil Corporate Bankruptcy Filings Double This Year, Experian Says

Businesses' requests for bankruptcy protection in Brazil doubled in the first four months of 2016 as the harshest recession in decades and borrowing costs at nine-year highs crimped the ability of factories and retailers to stay afloat, the local un ...

Daily Headline - global.abi.org - 05/04/2016 - 20:51 - 0 comments

Corporate Brazil Faces Cash Risks Through 2017

More Brazilian companies will face increasing liquidity risk through next year as rising borrowing costs and the harshest recession in decades hamper their ability to service debt, Moody's Investors Service said on Monday, Reuters reported. A Moody& ...

Daily Headline - global.abi.org - 05/02/2016 - 21:04 - 0 comments

Argentina Could Issue $30 Billion Debt This Year

April 19, averaged 7.2 per cent. Meanwhile, government debt is 44 per cent of GDP, of which 17 per cent ...

Daily Headline - global.abi.org - 05/01/2016 - 21:02 - 0 comments

Macri Enlists Business As Austerity Bites

After summoning 100 representatives of Argentina’s business elite to the presidential residence this week, Mauricio Macri praised the few that had recently announced investments. The rest, he implied, were not doing their bit for the country, the Finan ...

Daily Headline - global.abi.org - 04/24/2016 - 17:21 - 0 comments

Brazil's OAS Creditors To Take Over Invepar Stake

Brazilian construction company Grupo OAS said its creditors would take over its 24.5 percent stake in infrastructure company Invepar as part of a restructuring plan, Reuters reported. OAS's shares of Invepar will be transferred to SPE Credores by th ...

Daily Headline - global.abi.org - 04/21/2016 - 21:58 - 0 comments

Rig Leaser Sete Brasil To File For Bankruptcy Protection

Brazil's rig leaser Sete Brasil Participações SA has decided to file for bankruptcy protection, the company said on Wednesday, Reuters reported. According to a source with direct knowledge of the matter, state-controlled pension fund Petros reversed ...

Daily Headline - global.abi.org - 04/20/2016 - 22:01 - 0 comments

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