Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Construtora Norberto Odebrecht SA > News item |
Moody’s revises Odebrecht to negative
Moody's Investors Service said it affirmed the Baa3 issuer rating assigned to Construtora Norberto Odebrecht SA and the Baa3 ratings of its guaranteed notes issued by Odebrecht Finance Ltd.
The outlook was revised to negative.
Moody’s said the outlook change reflects the deterioration in the industry fundamentals for engineering and construction in Brazil on the back of corruption scandals at Petroleo Brasileiro SA (Baa2 rating under review for downgrade) and increased macroeconomic uncertainties, which could lead to weaker growth rates, higher execution risks and unexpected cash flow pressures for Construtora Norberto in the near-term.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.