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Prospect News home > News index > List of issuers G > Headlines for General Shopping e Outlets do Brasil SA > News item |
Fitch might cut General Shopping
Fitch Ratings said it placed the ratings for General Shopping e Outlets do Brasil SA on rating watch negative.
The action follows the company’s recent announcement it intends to transfer the equity interests, direct or indirectly held, in 11 of 16 of its shopping centers to a real estate investment fund and to distribute about R$829 million of unrealized profits in February, the agency said.
Fitch said the action reflects its credit concern of potential deterioration in the company’s capital structure and liquidity if the proposed transaction is approved.
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