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Brazil’s real advanced the most among major currencies, rebounding from the world’s biggest loss Wednesday, as a court ruling put President Dilma Rousseff a step closer to facing impeachment over the way the government accounted for its finances last year. The real advanced 1.5 percent to 3.8292 per dollar, its strongest level in more than... Continue Reading →
Brazil’s real is the worst-performing major currency this year. Ask the top-ranked forecasters and they’ll say it’s set for more losses. The three most accurate currency analysts see the real trading at an average of 4.1 per dollar by year-end, data compiled by Bloomberg show. To get there, the real would have to slide another... Continue Reading →
Brazil will be able to maintain its coveted investment-grade rating if its economy improves next year and the government builds a political consensus around crucial austerity measures, a senior analyst with Moody's Investors Service said on Tuesday. Mauro Leos said at a Moody's seminar in Sao Paulo that Brazil's Baa3 rating, the firm's lowest investment-grade... Continue Reading →
Brazil’s real swung between gains and losses in early trading Tuesday as optimism that some government spending cuts will be upheld offset concern impeachment proceedings against President Dilma Rousseff are drawing closer. The real was little changed at 3.9116 per dollar at 9:54 a.m. in Sao Paulo, after earlier falling as much as 1.1 percent... Continue Reading →
Petrobras - Adjustments to the 2015-2019 Business and Management Plan 10/05/2015 Rio de Janeiro, October 5, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby informs that, in view of the new levels of Brent crude oil prices and exchange rate (R$/US$), it has adjusted its financial planning for 2015 and 2016. When the Company first... Continue Reading →
State-led Petróleo Brasileiro SA , struggling with the biggest debt load among global oil firms, on Monday cut $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump. Petrobras, as the company is commonly known, plans to cut 2015 investment by 11 percent to $25 billion from... Continue Reading →
The short-end of the Petrobras bond curve, which faced the brunt of a recent sell-off, continued to strengthen on Monday and gave a solid boost to LatAm credit markets. The 2017s and 2019s issued by the Brazilian state-owned oil company were about 50bp tighter versus Friday, according to a New York based trader. Today's rally... Continue Reading →
The number of requests for bankruptcy protection in Brazil soared to an all-time high in the first nine months as the steepest recession in a quarter century and rising borrowing costs hammered hundreds of small- and mid-sized firms, credit research company Serasa Experian said on Monday. The number of requests for court protection from creditors... Continue Reading →
NEW YORK (Standard & Poor's) Oct. 2, 2015--Standard & Poor's Ratings Services said today it lowered its corporate credit and issue-level ratings on Odebrecht Oleo e Gas S.A. (OOG) to 'B' from 'BB-'. At the same time, we placed the ratings on CreditWatch with negative implications. In addition, we lowered the company's SACP to 'b-'... Continue Reading →
The State of Rio de Janeiro Public Servants Pension Fund issued dollar obligations backed by future Oil Royalties due to the state of Rio that now have broken certain covenants and investors are retaining part of the royalties paid. Another victim of the Petrobras scandal and low oil production and prices. Fitch Ratings has downgraded... Continue Reading →
