Standard & Poor's changes outlook to negative for 30 Brazil firms
After shifting Brazil's outlook from stable to negative, the credit-rating agency Standard & Poor's announced Wednesday (Jul 29) the same move for 30 companies and 11 financial institutions in the country.
Just as S&P did with Brazil's long-term foreign currency credit rating, the agency kept the companies' ratings unchanged.
The change comes as a result of the country's new outlook, which signifies that, even though the country is still deemed safe for investors,. A downgrade might be on its way.
In a statement made on Tuesday (28), S&P said there has been “a significant policy correction during President Dilma Rousseff's second term,” and added that, even so, “Brazil's facing a challenging political and economic backdrop.”
The banks that had their outlook altered, in alphabetical order, are:
- Banco Bradesco S.A.;
- Itau Unibanco Holding S.A.;
- Itau Unibanco S.A.;
- Banco Citibank S.A.;
- Banco do Brasil S.A;
- Banco do Estado do Rio Grande do Sul S.A.;
- Banco Santander (Brasil) S.A.;
- Banco do Nordeste do Brasil S.A.;
- BM&FBOVESPA S.A-Bolsa de Valores, Mercadorias e Futuros;
- Banco Nacional de Desenvolvimento Econômico e Social; and
- Caixa Econômica Federal.
The companies that underwent the same shift are, also in alphabetical order:
- AmBev - Companhia de Bebidas das Americas (AmBev);
- Atlantia Bertin Concessoes S.A. (AB Concessões) and its subsidiaries;
- Rodovia das Colinas S.A. and Triangulo do Sol Auto-Estradas S.A.;
- Arteris S.A. And its subsidiary, Autopista Planalto Sul S/A.;
- Braskem S.A.;
- CCR S.A. and its subsidiaries;
- CESP-Companhia Energética de São Paulo;
- Companhia de Gás de São Paulo - Comgás;
- Companhia Energética do Ceará - Coelce;
- Duke Energy International Geração Paranapanema S.A. (Duke);
- Ecorodovias Concessões e Serviços S.A. and Concessionária Ecovias dos Imigrantes S.A.;
- Elektro Eletricidade e Serviços S.A. (Elektro);
- Eletrobrás-Centrais Elétricas Brasileiras S.A.;
- Globo Comunicação e Participações S.A. (Globo)
- Itaipu Binacional;
- Multiplan Empreendimentos Imobiliários S.A. (Multiplan);
- Net Serviços de Comunicação S.A. (Net);
- Samarco Mineração S.A.;
- Tractebel Energia S.A.;
- Transmissora Aliança de Energia Elétrica S.A. (TAESA);
- Ultrapar Participações S.A. (Ultrapar); and
- Votorantim Participações S.A. and its subsidiaries, Votorantim Industrial S.A. and Votorantim - Cimentos S.A.
Translated by Fabrício Ferreira
Fonte: Standard & Poor's changes outlook to negative for 30 Brazil firms
