December 23, 2014
OAS’ financial performance to September disappointed, with operating expenses and leverage up, and ebitda down, the agency said. Moody’s highlighted the company’s “limited liquidity” to meet large debt maturities in the next year given its intensive working capital needs. Brazil’s slow economy, foreign currency swings and the expanding investigation into companies related to Petrobras increase liquidity risk. “Although the legal disputes are still in the beginning and will probably take longer b
Moody’s downgraded OAS a notch to B2 on Friday, as investigations into corruption allegations at Petrobras hit related companies.