SuperVia seeks bankruptcy protection

SuperVia seeks bankruptcy protection

Corporate & Sovereign Strategy Debt Coronavirus Project & Infrastructure Finance Railroads Brazil Japan

Brazilian commuter rail company SuperVia said Tuesday that it had filed for bankruptcy protection in a Rio de Janeiro state court after accumulating BRL474 million ($93.9 million) in losses since the start of the COVID-19 pandemic in March last year. SuperVia is seeking to restructure BRL1.2 billion in debt to maintain service and "to overcome the current financial crisis that the concessionaire is going through," it said in a statement.  Before the pandemic, SuperVia carried an average of 600,0

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