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Article: DCR Takes Rating Actions on Brazilian Corporate and Structured Transactions.
- Article from:
- PR Newswire
- Article date:
- October 9, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, Oct. 9 /PRNewswire/ -- Duff & Phelps Credit Rating Co. (DCR) has downgraded or placed on Rating Watch-Down several corporate or structured transaction ratings assigned to entities in the Federative Republic of Brazil. DCR has also reaffirmed several other corporate and structured ratings. These rating actions follow DCR's decision to downgrade the local currency debt rating of the Federative Republic of Brazil to 'BB-' (Double-BB-Minus) from 'BB+' (Double-BB-Plus) and factor in:
-- decreasing domestic demand for various products as a result of Brazil's
prolonged, high domestic interest rate environment;
-- increasing concern about the ...