Brazil

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Moody's Sees Lower Rates in Brazil Taking a While to Revive Credit

Declining borrowing costs in Brazil will help local companies cut their debt and speed up refinancing efforts with creditors, even if they fail to jump-start economic growth in the short run, Moody's Investors Service said in a report on Wednesday. ...

Daily Headline - global.abi.org - 04/19/2017 - 18:26 - 0 comments

BDO Declines To Replace PwC At Brazil's Oi Restructuring Case

Accounting firm BDO declined to replace PriceWaterhouseCoopers in the in-court restructuring of Brazilian carrier Oi SA, BDO said in a statement on Friday. The judge overseeing the restructuring dropped PwC from the case on March 31 alleging the firm mad ...

Daily Headline - global.abi.org - 04/09/2017 - 18:04 - 0 comments

Odebrecht Bonds Are Both the Best and Worst in Brazil

Odebrecht SA is rewarding some bondholders while others get burned, Bloomberg News reported. Notes issued by the holding company and backed by the construction arm plunged Wednesday after newspaper Valor Economico reported executives had told creditors t ...

Daily Headline - global.abi.org - 04/06/2017 - 19:51 - 0 comments

Wider Impact Of Legal Change Delays Oi Intervention Decree

The Brazilian government is taking longer to finalize a decree that would allow it to intervene in debt-ridden Oi SA because it could impact other sectors beyond domestic phone carriers, an official familiar with the matter said on Monday, Reuters report ...

Daily Headline - global.abi.org - 04/03/2017 - 20:26 - 0 comments

Oi Spurns `Intellectually Dishonest' Calls for Takeover by State

Oi SA and one of its largest shareholders are pushing back against calls for a government takeover to usher the Brazilian phone company out of bankruptcy protection, Bloomberg News reported. Groups unhappy with the company’s restructuring plan are pressu ...

Daily Headline - global.abi.org - 04/02/2017 - 21:50 - 0 comments

Odebrecht's OOG to Honor Bond Payment a Week After Deadline

Odebrecht Óleo & Gás SA, the offshore oil drilling company owned by Brazil's Odebrecht SA, has won temporary relief from investors despite pledging to honor interest payments on a bond a week after deadline, Reuters reported. In a Friday stateme ...

Daily Headline - global.abi.org - 04/02/2017 - 21:54 - 0 comments

Creditors of Brazil's Oi Balk at Revised Debt Restructuring Plan

The two biggest bondholder groups in Brazilian telephone operator Oi SA said on Friday they "strongly oppose" the terms of a new debt restructuring plan the company intends to present in bankruptcy court, Reuters reported. Claiming the proposed ...

Daily Headline - global.abi.org - 03/26/2017 - 19:59 - 0 comments

Oi Shares Jump on Debt Plan; Capital Questions Remain

A new reorganization plan from Brazil's debt-laden phone carrier Oi SA boosted shares on Thursday, but analysts continued to focus on the need for fresh capital after a heavy fourth-quarter loss, Reuters reported. Changes to the plan revealed late o ...

Daily Headline - global.abi.org - 03/23/2017 - 22:37 - 0 comments

Brazil's Grupo Schahin Defeats Itaú Challenge to Debt Plan

Grupo Schahin said on Monday it can execute a reorganization plan after an appeals court favored the ailing Brazilian engineering and rig-leasing conglomerate over disgruntled creditors, according to a statement, Reuters reported. The reorganization, con ...

Daily Headline - global.abi.org - 03/13/2017 - 22:05 - 0 comments

Bulls Reign in Brazil as Reform Push Offsets Graft Scandal

It’s hard to find a pessimist among Brazil investors these days, even though there’s plenty to be worried about. Traders who pushed the real and Ibovespa stock index to some of the world’s biggest gains over the past year see a rosy outlook for President ...

Daily Headline - global.abi.org - 03/12/2017 - 20:25 - 0 comments

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