This report does not constitute a rating action. SAO PAULO (S&P Global Ratings) Dec. 11, 2023--S&P Global Ratings said today that the proceeds from the sale of Investimentos e Participações em Infraestrutura S.A.'s (Invepar's; CCC+/Negative/--; brBB-/Negative/--) 92.92% stake in Concessionária Litoral Norte (CLN) to Monte Forte Holding Participações S.A. for about R$200 million will support its debt reduction. This is because Invepar will prepay part of its R$900 million outstanding balance of the third and fifth debentures at the holding level. The debt amortization was agreed during the company's latest debt restructuring, which amended the debentures' documentation, establishing that the proceeds from the sale of CLN would have to be used for debt prepayment. The transaction still needs regulatory and
