April 9, 2021
S&P Global Ratings downgraded Brazil's Invepar to by one notch to CC after the infrastructure company said it extended the due date on BRL1.9 billion ($341 million) by 80 days until June 30.
Invepar is also talking to creditors about restructuring BRL2.2 billion in debt, which could involve cash payments and stakes in the company's subsidiaries.
"Although not yet completed, we view the debt restructuring as inevitable considering the group's fragile financial position," S&P said in a rep
Brazilian infrastructure company is in a "fragile financial position" as it faces $400 mln in debt, rating agency says