Brazil

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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

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

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

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