Fitch Puts Brazilian Builder in Single-B Territory

Fitch Puts Brazilian Builder in Single-B Territory

Brazil Bonds Corporate & Sovereign Strategy

Fitch has assigned a first-time B+ rating to Brazilian builder Mendes Junior Trading e Engenharia, it says. The company is focused on heavy construction work for the industrial, infrastructure, oil and gas and power generation sectors. It lands in the single-B category due to its moderate business scale and a concentrated backlog on a small set of large projects linked with public sector clients. The agency also finds it lacks the conservative liquidity policy necessary to support a growing busi

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