Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Upgraded To 'CCC+' From 'D' On New Capital Structure - S&P Global Ratings’ Credit Research

Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Upgraded To 'CCC+' From 'D' On New Capital Structure

Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Upgraded To 'CCC+' From 'D' On New Capital Structure - S&P Global Ratings’ Credit Research
Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Upgraded To 'CCC+' From 'D' On New Capital Structure
Published Jan 19, 2022
7 pages (3004 words) — Published Jan 19, 2022
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Brazil-based transportation infrastructure group Investimentos e Participacoes em Infraestrutura S.A. – Invepar (Invepar) has completed part of its debt restructuring, which we assessed as distressed, and we're now reevaluating the group's new capital structure. The group reduced debt at the holding level after Invepar exchanged 68.3% of the debt for its stake in two urban mobility assets. In addition, the R$854 million of the remaining debentures had their maturity extended to August 2024 from October 2021, easing liquidity pressures. Nevertheless, the group's business has shrunk and now mainly reflects its Guarulhos airport operations. As a result, S&P Global Ratings raised its global scale rating on Invepar to 'CCC+' from 'D' and national scale rating to 'brBB' from 'D'. At the

  
Brief Excerpt:

... Investimentos e Participacoes em Infraestrutura S.A. ¡ Invepar (Invepar) has completed part of its debt restructuring, which we assessed as distressed, and we're now reevaluating the group's new capital structure. - The group reduced debt at the holding level after Invepar exchanged 68.3% of the debt for its stake in two urban mobility assets. In addition, the R$854 million of the remaining debentures had their maturity extended to August 2024 from October 2021, easing liquidity pressures. Nevertheless, the group's business has shrunk and now mainly reflects its Guarulhos airport operations. - As a result, S&P Global Ratings raised its global scale rating on Invepar to '###+' from 'D' and national scale rating to 'brBB' from 'D'. At the same time, we raised our issue-level ratings on its third and fifth debentures to 'brB+' from 'D'. We also affirmed the recovery rating of '6'. - The stable outlook reflects Invepar's improved short-term...

  
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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Upgraded To 'CCC+' From 'D' On New Capital Structure" Jan 19, 2022. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Investimentos-e-Participacoes-em-Infraestrutura-S-A-Invepar-Upgraded-To-CCC-From-D-On-New-Capital-Structure-2782451>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Investimentos e Participacoes em Infraestrutura S.A. - Invepar Upgraded To 'CCC+' From 'D' On New Capital Structure Jan 19, 2022. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Investimentos-e-Participacoes-em-Infraestrutura-S-A-Invepar-Upgraded-To-CCC-From-D-On-New-Capital-Structure-2782451>
  
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