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After S&P Ratings Reprieve, Brazil Faces Some Tough Economic News Friday’s report on GDP expected to show contraction for last year Brazil's President Dilma Rousseff got a reprieve on Monday when Standard & Poor’s didn’t downgrade her country’s debt rating, but she faces an expected weak economic report on Friday, which is expected to show... Continue Reading →
S&P/Odebrecht Oleo e Gas Ratings Lowered To 'BB-' From 'BB+' On Petrobras' Weaker Stand-Alone Credit Profile Publication date: 24-Mar-2015 13:56:02 EDT On March 23 2015, we affirmed our 'BBB-' corporate credit rating on Brazil-based integrated oil and gas company, Petrobras, and revised downward our stand-alone credit profile (SACP) on the company to 'b+' from 'bb'.... Continue Reading →
Real Rises as S&P Brazil Affirmation Overshadows Currency Stance By Paula Sambo 10:19 AM BRT March 24, 2015 (Bloomberg) -- Brazil’s real climbed for a third straight day as Standard & Poor’s affirmation of the nation’s investment-grade credit rating overshadowed speculation that the central bank will phase out sales of swaps supporting the currency. The... Continue Reading →
Brazil Said Planning Oilfield Auction to Bolster Ailing Industry By Anna Edgerton 1:30 PM BRT March 24, 2015 Brazil plans to auction onshore fields in the second half of the year to encourage foreign oil companies to remain active in the country, according to two government officials with direct knowledge of the matter. Photographer:... Continue Reading →
// // // S&P | Sete Brasil Participacoes Downgraded To 'SD' On Default Of Bilateral Bridge Loan | Americas// // // Sete Brasil Participacoes Downgraded To 'SD' On Default Of Bilateral Bridge Loan <!--Publication date: 23-Mar-2015 16:31:43 EST --> Publication date: 23-Mar-2015 16:31:43 EDT View Analyst Contact Information Brazil-based oil rig investment company Sete failed... Continue Reading →
Brazilian Real Leads Emerging-Market Gains on Fed Rate Outlook By Paula Sambo 10:18 AM BRT March 23, 2015 (Bloomberg) -- Brazil’s real led emerging-market advances on speculation Federal Reserve officials won’t be in a hurry to raise U.S. interest rates, supporting demand for higher-yielding assets. The real climbed 2 percent to 3.1686 per dollar at... Continue Reading →
Majority of Brazilians Favor Rousseff’s Impeachment, Poll Says By Raymond Colitt 4:51 PM BRT March 23, 2015 (Bloomberg) -- A majority of Brazilians favor an impeachment of President Dilma Rousseff, whose approval rating slumped to a record on a widening corruption scandal and a slowing economy, an MDA poll showed today. Six out of... Continue Reading →
Credit Suisse-Backed Firm to Raise Brazil Distressed-Asset Fund By Cristiane Lucchesi 7:00 AM BRT March 23, 2015 (Bloomberg) -- Peninsula Investimentos SA, the Brazilian asset-management firm backed by Credit Suisse Group AG, is planning to raise a fund of as much as 500 million reais ($155 million) to invest in distressed corporate assets as bankruptcies... Continue Reading →
http://www.ft.com/cms/s/0/4410a628-cf1d-11e4-9949-00144feab7de.html#ixzz3VD55Fo9u March 22, 2015 7:00 pm Brazil’s fall from grace of its own making The important question now is whether its institutions continue to hold ©AFP Brazil is in crisis. Earlier this month, more than 1m protesters took to the streets to voice their discontent. Much of the country suffers water rationing following a long... Continue Reading →
Local sources report that Sete Brasil share holders will inject up to R$1 billion to prop up the company and are negotiating with creditor banks a 90 day delay on the U$350 million loan that is overdue. In the meantime the shipyards under contract have been laying off workers. More to come...
