Raízen Silence on Debt Plans, Rout Led to S&P Rare 7-Notch Cut
A shift in tone from Raízen SA — from publicly discussing raising fresh capital to declining to rule out talks on a potential debt restructuring — contributed to S&P Global...
By Giovanna Bellotti Azevedo, Rachel Gamarski · Bloomberg Markets
A shift in tone from Raízen SA — from publicly discussing raising fresh capital to declining to rule out talks on a potential debt restructuring — contributed to S&P Global Ratings’ seven-notch credit downgrade of its credit score, among the largest ever for a Brazilian company.