// // // 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
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
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
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 ($155 million) to invest in distressed corporate assets as bankruptcies... Continue Reading →
Brazil’s fall from grace of its own making
http://www.ft.com/cms/s/0/4410a628-cf1d-11e4-9949-00144feab7de.html#ixzz3VD55Fo9u March 22, 2015 7:00 pm Brazil’s fall from grace of its own making The important question now is whether its institutions continue to hold ©AFP Brazil is in crisis. Earlier this month, more than 1m protesters took to the streets to voice their discontent. Much of the country suffers water rationing following a long... Continue Reading →
Sete Brasil shareholders to inject up to R$ 1 billion
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...
Oil majors pile on record debt to plug cash shortfalls
http://www.ft.com/cms/s/0/fc15b520-cf2b-11e4-9949-00144feab7de.html#ixzz3V7vl38bw March 22, 2015 12:14 pm Oil majors pile on record debt to plug cash shortfalls Christopher Adams, Energy Editor ©AP The world’s biggest energy groups have sold record amounts of debt this year, taking advantage of historically low interest rates to plug cash shortfalls with borrowing, after a 50 per cent plunge in oil prices.... Continue Reading →
The endangered Dilma Rousseff/Impeachment would be a difficult feat, but some are pushing for it
Mass protest in Brazil The endangered Dilma Rousseff Impeachment would be a difficult feat, but some are pushing for it Mar 19th 2015 The Economist A MORIBUND economy. A multi-billion-dollar corruption scandal at Petrobas (the state-controlled oil giant). The critical need to find savings equal to 1.8% of GDP this year to stave off a... Continue Reading →
UPDATE 2-Sete Brasil says Standard Chartered seeks early loan repayment
UPDATE 2-Sete Brasil says Standard Chartered seeks early loan repayment Fri Mar 20, 2015 7:16pm GMT (Reuters) - Oil rig producer Sete Brasil Participações SA said on Friday that British lender Standard Chartered Plc is seeking early repayment of a loan, as fallout from a corruption scandal involving the Brazilian firm's main client cuts access to... Continue Reading →
Sete Brasil confirms that Standard Chartered Bank has called in loan for offshore rigs
Sete Brasil confirms that Standard Chatered Bank has called in loan. Sete has notified that one of their international creditors, Standard Chartered Bank, has called on the guarantor FGCN (Fundo Garantidor da Construção Naval) for payment of outstanding loan. Sete Brasil finds itself in a real jam since it has not been able to obtain the... Continue Reading →
Brazil Energy Insight 