October 24, 2016 |
Moody's said it has downgraded Odebrecht Engenharia e Construcao to Caa1 from B3 with a negative outlook, citing "business uncertainties amid evolving reputational risks."The rating agency doubted that Odebrecht's cash generation and financial profile will improve significantly in the next 12 months, given the challenges for infrastructure investments in Latin America and for the company. Odebrecht has a strong record in the construction sector but its market position has suffered from the Lava
Rating agency cuts the Brazilian conglomerate's ratings by one notch, citing "evolving reputational risks"