Brazil

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Creditors Approve Brazil Shipbuilder OSX's Bankruptcy Plan

Creditors approved Brazilian shipbuilder OSX Brasil SA's revamped plan to emerge from bankruptcy late on Wednesday, giving a boost to efforts by controlling shareholder Eike Batista to keep the company afloat while refinancing over $2.6 billion in d ...

Daily Headline - global.abi.org - 12/17/2014 - 21:50 - 0 comments

Brazil Ailing Power Producer Eneva Files For Creditor Protection

Eneva SA, the ailing Brazilian producer controlled by Germany's E.ON SE, filed late on Tuesday for credit protection in a Rio de Janeiro court after failing to refinance part of its 2.33 billion reais ($900 million) in outstanding debt, Reuters repo ...

Daily Headline - global.abi.org - 12/09/2014 - 22:21 - 0 comments

Brazil to Revise Economic Plan

administration has also cut to 0.8% from 3% Brazil’s 2015 growth forecast. The central bank, meanwhile, has ...

Daily Headline - global.abi.org - 12/09/2014 - 22:24 - 0 comments

Brazil’s Middle Class Finds a Lifeline at the Pawnshop

Interest rates in Brazil would make an American loan shark blush. Credit cards charge more than 240 percent a year. Bank loans top 100 percent, the International New York Times DealBook blog reported. For a rising number of consumers in need of cash, ...

Daily Headline - global.abi.org - 12/03/2014 - 22:29 - 0 comments

Brazil’s Economy Claws Out of Recession

measure of goods and services produced across the economy, expanded 0.1 percent in the third quarter on a ...

Daily Headline - abi_admin - 12/01/2014 - 17:38 - 0 comments

Impsa Sells Brazil Wind Parks as It Readies Bond Restructuring

Industrias Metalurgicas Pescarmona SA, the Argentine wind-turbine maker owned by the Pescarmona family and known as Impsa, agreed to sell holdings in wind parks in Brazil to a local developer as it prepares to restructure its debt, Bloomberg News reporte ...

Daily Headline - global.abi.org - 11/19/2014 - 20:48 - 0 comments

Incoming Brazilian Government Faces Cash Crunch

Brazil’s next finance minister, to be appointed within weeks, must wrestle with a growing government problem: not enough money, The Wall Street Journal reported. Shoring up Brazil’s books is crucial for the nation to avoid a potential credit rating d ...

Daily Headline - global.abi.org - 11/11/2014 - 22:48 - 0 comments

Brazil OKs Bankruptcy Protection Petition For Batista Unit MMX Sudeste

A Brazilian court has approved a bankruptcy protection petition filed by MMX Sudeste Mineracao SA, an iron-ore mining company controlled by Brazilian tycoon Eike Batista, the company said on Wednesday in a securities filing, Reuters reported. It was the ...

Daily Headline - global.abi.org - 10/22/2014 - 20:45 - 0 comments

Brazil's Oi Says Rioforte Demise Unlikely To Impact Operations

Grupo Oi SA, the Brazilian telecommunications company struggling with rising debt and shrinking market share, said the demise of an investment vehicle that owed the company's Portugal Telecom SGPS SA unit almost 1 billion euros ($1.28 billion) is un ...

Daily Headline - global.abi.org - 10/20/2014 - 20:17 - 0 comments

Main Unit Of Batista's MMX Requests Bankruptcy Protection

The main subsidiary of Brazilian tycoon Eike Batista's iron ore mining company MMX Mineracao e Metalicos SA filed a bankruptcy protection petition before a Brazilian court on Wednesday, Reuters reported. MMX Sudeste Mineracao SA, the unit that holds ...

Daily Headline - global.abi.org - 10/15/2014 - 21:16 - 0 comments

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