Brazil

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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

Rio Warns of Fiscal Collapse as Brazil States Seek Debt Relief

Rio de Janeiro said it’s running out of money to pay for basic services months before the Olympic Games while other Brazilian states warned of similar financial crises if the federal government doesn’t provide debt relief, Bloomberg News reported. Six st ...

Daily Headline - global.abi.org - 04/19/2016 - 21:28 - 0 comments

Brazilians Hope an End to Political Crisis Will Improve Battered Economy

A political crisis and a two-year corruption scandal have brought Latin America’s largest economy to its knees. Now the country is looking to the lower house to end the political stalemate. There legislators prepare to vote on Sunday whether to move ahea ...

Daily Headline - global.abi.org - 04/14/2016 - 21:57 - 0 comments

Brazil’s Economy Tanks as Political Upheaval Looms

For the past two months, Brazilian financial markets have staged wild rallies over any sign that left-leaning President Dilma Rousseff might be ousted from office, even as the nation’s economy spiraled further into the depths of its worst crisis in gener ...

Daily Headline - global.abi.org - 04/13/2016 - 21:23 - 0 comments

Bankruptcy Filings More Than Double In Brazil As Recession Deepens

Bankruptcy protection requests in Brazil more than doubled in the first quarter from the year-earlier period, as businesses suffered from the highest borrowing costs in a decade and a steep recession dragged down revenue, credit research company Serasa E ...

Daily Headline - global.abi.org - 04/05/2016 - 21:14 - 0 comments

Petrobras Sought Arbitration For Sete Brasil Talks, Sources Say

State-controlled Petróleo Brasileiro SA unsuccesfully sought the appointment of arbiters to rework a long-term contract with debt-laden drilling rig leaser Sete Brasil Participações SA, according to three sources with knowledge of the situation, Reuters ...

Daily Headline - global.abi.org - 04/04/2016 - 22:46 - 0 comments

Brazilian Airline Gol Hires PJT Partners as Financial Adviser

Brazilian airline Gol Linhas Aereas Inteligentes SA said Monday it has hired U.S.-based PJT Partners Inc. as a financial adviser, as the country’s deep economic recession is hurting demand for air travel, The Wall Street Journal reported. Gol said in ...

Daily Headline - global.abi.org - 03/28/2016 - 20:45 - 0 comments

Brazil Economic Woes Deepen Amid Political Crisis

Brazil’s economic crisis is as bad as its political one, The Wall Street Journal reported. Latin America’s biggest economy appears headed for one of its worst recessions ever. It stalled in 2014, shrank 3.8% last year and now faces a similar contract ...

Daily Headline - global.abi.org - 03/27/2016 - 12:03 - 0 comments

Brazil’s Crushing Debt Loads Are Leading to a Restructuring Boom

Brazil’s economic quagmire, with an ever-growing corruption scandal on top of the longest and deepest recession in at least a century, is producing an unprecedented era of corporate debt restructuring in the country, Bloomberg News reported. The borrowin ...

Daily Headline - global.abi.org - 03/17/2016 - 21:11 - 0 comments

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