Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Placed On Watch Negative On Rising Refinancing Risk - S&P Global Ratings’ Credit Research

Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Placed On Watch Negative On Rising Refinancing Risk

Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Placed On Watch Negative On Rising Refinancing Risk - S&P Global Ratings’ Credit Research
Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Placed On Watch Negative On Rising Refinancing Risk
Published Aug 28, 2018
8 pages (2644 words) — Published Aug 28, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Brazil-based infrastructure operator Invepar has around R$1.1 billion in debentures maturing on Dec. 11, 2018, at the holding level. Given that we believe that the refinancing risk has increased now, we're placing our 'BB-' global and 'brAA+' national scale ratings on CreditWatch with negative implications. This indicates our concern about Invepar's ability to extend its maturities and a 50% probability of multiple-notch downgrade if the company is unable to refinance the debentures by early November. On Aug. 28, 2018, S&P Global Ratings placed its 'BB-' global scale and 'brAA+' national scale ratings on Investimentos e Participacoes em Infraestrutura S.A. – Invepar on CreditWatch negative. At the same time, we placed on CreditWatch negative our 'brAA+' issuer credit and issue-level ratings

  
Brief Excerpt:

...+ Brazil-based infrastructure operator Invepar has around R$1.1 billion in debentures maturing on Dec. 11, 2018, at the holding level. + Given that we believe that the refinancing risk has increased now, we're placing our '##-' global and 'brAA+' national scale ratings on CreditWatch with negative implications. + This indicates our concern about Invepar's ability to extend its maturities and a 50% probability of multiple-notch downgrade if the company is unable to refinance the debentures by early November....

  
Report Type:

Research Update

Issuer
Investimentos e Participacoes em Infraestrutura S.A. - Invepar
GICS
Highways & Railtracks (20305020)
Sector
Global Issuers
Country
Brazil
Region
Latin America
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Placed On Watch Negative On Rising Refinancing Risk" Aug 28, 2018. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Investimentos-e-Participacoes-em-Infraestrutura-S-A-Invepar-Placed-On-Watch-Negative-On-Rising-Refinancing-Risk-2092062>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Placed On Watch Negative On Rising Refinancing Risk Aug 28, 2018. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Investimentos-e-Participacoes-em-Infraestrutura-S-A-Invepar-Placed-On-Watch-Negative-On-Rising-Refinancing-Risk-2092062>
  
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