Moody’s downgrades Invepar

Moody's Investors Service said it downgraded Investimentos e Participacoes em Infraestrutura SA – Invepar’s corporate family ratings to B2 from B1 on the global scale and to Ba2.br from Baa2.br on the national scale.

The outlook remains negative.

The downgrades reflect an expectation that Invepar's credit metrics will continue to deteriorate over the next six to 12 months, driven by the negative effects that Brazil's economic recession exerts on Invepar's concessions and on its single largest concession, Guarulhos Airport, Moody’s said.

The agency also said it views Invepar's liquidity position as weak.

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