Brazil Makes Latin America Fallen Angels Hub, Moody’s Says
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Brazil’s stagnant economy and sinking currency are putting investment-grade ratings at risk, making Latin America the region with the biggest number of high-grade bonds that could end up as junk, Moody’s Investors Service said.
Power producer Centrais Eletricas Brasileiras SA and builder Construtora Norberto Odebrecht SA are among eight Brazilian companies at risk of being cut to speculative grade, Moody’s said in a research note Tuesday. The firm lowered the ratings of 10 Brazilian companies during the first quarter.