Brazil Infrastructure Credit Holding Up: Moodys

Brazil Infrastructure Credit Holding Up: Moodys

Brazil Corporate & Sovereign Strategy

Brazilian infrastructure credits are relatively well insulated from the adverse economic conditions seen globally, Moody’s says, with many supported by regulated tariffs, low exposure to currency volatility and strong regulatory environments. Liquidity is not a major consideration, and the government BNDES continues to fund much of the infrastructure capex. Despite the influence of political considerations, Brazil’s is supportive of private concessions due to the track record of cost recovery an

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