Brazil Banks Postpone Pain by Giving Companies More Time to PayBy and
Renegotiated loans at Banco do Brasil more than double
Nation’s average maturity on loans jumps to widest on record
Brazil’s biggest banks, already reeling from a surge in bad loans, tried to avoid deeper losses as phone company Oi SA headed toward default, agreeing to a grace period of at least four years with no payments on 17 billion reais ($5.1 billion) in debt.
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