Fitch Negative on Voto

Fitch Negative on Voto

Brazil Corporate & Sovereign Strategy

Fitch has revised the outlook on Votorantim Participacoes’ BBB rating to negative from stable, it says. The move is motivated by Votorantim postponing of discussions with Banco do Brasil that could have resulted in an increase in BdB’s stake Banco Votorantim. It also takes into account the postponing of an IPO for the Votorantim Cimentos business, which could have raised more than BRL8.0bn ($3.4m). “The postponement of these initiatives will delay the company’s ability to reach a targeted net de

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial