S&P lowers Invepar

S&P said it lowered its global scale issuer credit rating on Investimentos e Participacoes em Infraestrutura SA – Invepar to CCC- from CCC and the Brazil national scale rating to brCCC- from brB-.

S&P also lowered the issue-level rating on the company's third and fifth debentures issuance to brC from brB- and brCCC+, respectively, and the issue-level rating on Metrobarra SA's debentures to brCCC- from brB-.

The outlook is negative.

“Invepar has limited financial flexibility, given its cash position is insufficient to amortize the existing debt, while performance of most of its assets suffered because of the social-distancing measures due to the Covid-19 pandemic, reducing their ability to upstream dividends,” S&P said in a news release.

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