GVO off the hook with Moody’s, Fitch

GVO off the hook with Moody’s, Fitch

Corporate & Sovereign Strategy

Virgolino de Oliveira GVO, after a series of moves by the company to strengthen its debt profile Moody’s and Fitch have lifted the immediate threat of downgrade from Brazilian sugar and ethanol producer Virgolino de Oliveira GVO, after a series of moves by the company to strengthen its debt profile. GVO’s sale of a $135m 10-year bond in early June helped the change in perspective at the ratings agencies. Restructuring of loans from two local banks also helped, said Fitch. Moody’s pointed to “add

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