Moody's casts negative outlook on Brazilian steel sector

Moody's casts negative outlook on Brazilian steel sector

Debt Capital Markets Bonds Fixed Income Corporate & Sovereign Strategy Coronavirus Brazil

Moody's said it has put a negative outlook on the Brazilian steel sector in anticipation of depressed sales through at least early 2021 due to the coronavirus pandemic. "Even without knowing the outbreak's intensity or duration," the rating agency said in a report, domestic demand for steel will likely fall on lower sales of automobiles and capital goods and slower construction activity due to containment measures to contain the virus. Moody's said it now expects GDP in Brazil to fall 1.6% in 20

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