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Prospect News home > News index > List of issuers O > Headlines for Odebrecht Oleo e Gas SA > News item
Published on 3/1/2016 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

S&P cuts Odebrecht Oleo e Gas

Standard & Poor’s said it lowered its corporate credit rating on Odebrecht Oleo e Gas to CCC+ from B and lowered the issue-level rating on Odebrecht Oil & Gas Finance Ltd. to CCC+ from B. S&P also maintained these ratings on CreditWatch negative.

S&P said the downgrade reflects the rising risk of OOG’s bonds’ default, stemming from a non-automatic cross-acceleration provision to one of its projects, OODFL.


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