Brazil

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S&P Warns Brazil Credit Rating At Risk

Standard & Poor’s warned Brazil on Tuesday that its investment grade rating was at risk as falling growth and political infighting hurt efforts to restore order to public finances. The agency placed Brazil’s foreign currency rating, which is one notc ...

Daily Headline - global.abi.org - 07/28/2015 - 20:21 - 0 comments

Brazil Court Approves DIP Loan For Engineering Firm OAS

A Brazilian court approved a debtor-in-possession loan to engineering firm OAS SA, the company said, after it earlier this year filed for bankruptcy protection in the wake of a corruption investigation that shut its access to refinancing. In a statement ...

Daily Headline - global.abi.org - 07/15/2015 - 22:37 - 0 comments

Budget Axe Falling Too Heavily On Us, Say Brazilian Businesses

Most industrialists acknowledge the need to tackle the budget deficit, which at 7 per cent last year was the worst in a decade, the Financial Times reported. But many industries in Brazil are heavily dependent on government protection, subsidies and ...

Daily Headline - global.abi.org - 07/14/2015 - 20:54 - 0 comments

Brazil Police Seize Documents From Politicians in Petrobras Probe

Brazilian federal police carried out search-and-seizure requests Tuesday against several local politicians, including former President Fernando Collor de Mello, as part of an investigation into an alleged corruption scheme at state-run oil firm Petróleo ...

Daily Headline - global.abi.org - 07/14/2015 - 20:54 - 0 comments

Venezuela Needs Debt Refinancing, Not Default

Venezuela must refinance its foreign debt to improve government cash flow in the face of recession and soaring inflation, opposition leader Henrique Capriles said on Tuesday, but added a default would have "terrible consequences" for the countr ...

Daily Headline - global.abi.org - 07/14/2015 - 21:08 - 0 comments

Brazil's OAS Unveils Restructuring Plan Ahead Of Deadline

reais ($259 million) as early as June 26, according to a source with knowledge of the matter. OAS filed ...

Daily Headline - global.abi.org - 06/21/2015 - 22:47 - 0 comments

Brazil Arrests Head of Odebrecht in Petrobras Scandal

In a related story, the International New York Times reported that Brazilian police on Friday arrested one of the country’s richest men, Marcelo Odebrecht, as the fallout broadens in an investigation into corruption at the state-run oil giant Petrobr ...

Daily Headline - global.abi.org - 06/21/2015 - 22:47 - 0 comments

Brazil Power Producer Eneva Missed June 15 Debt Payment

Brazilian power producer Eneva SA, which filed for bankruptcy protection in December, said on Tuesday it failed to meet a debt payment on June 15 after one of its creditors refused to postpone the maturity date, Reuters reported. The company, which is co ...

Daily Headline - global.abi.org - 06/16/2015 - 22:14 - 0 comments

Brazil Outlines $65 Billion Infrastructure Package

Dilma Rousseff stepped up her campaign to rescue Brazil’s flagging economy, announcing an infrastructure package worth almost R$200bn ($65bn) on Tuesday, the Financial Times reported. Brazil’s president outlined plans to sell to the private sector ne ...

Daily Headline - global.abi.org - 06/09/2015 - 22:31 - 0 comments

Brazil Treads Fine Line Between Inflation And Contraction

South America’s largest economy faces a difficult balancing act to avoid a potentially disastrous spiral of economic contraction as it seeks to control inflation, the Financial Times reported. Brazil’s planning minister Nelson Barbosa warned that he ...

Daily Headline - global.abi.org - 06/08/2015 - 22:04 - 0 comments

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