Moody's: PDG's debt reduction is positive

Moody's America Latina commented that PDG Realty SA Empreendimentos e Participacoes' plan to raise up to R$500 million of fresh equity from current shareholders and new investors is credit positive because it will materially improve PDG's cash balance position to address about R$2.2 billion of corporate debt coming due from now through mid-2016 in a period of challenging refinancing conditions and weak fundamentals for the Brazilian homebuilding market.

The company’s B3 rating and negative outlook are unchanged.

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