S&P might downgrade Parpublica

Standard & Poor's said it placed on CreditWatch with negative implications its BBB+ long-term issuer credit rating on Parpublica - Participacoes Publicas, SA following news that the company is considering raising €1.5 billion in new debt by the end of the year through two new exchangeable bond issuances, which would represent an increase of about 44% in the company's currently outstanding debt.

The agency said it therefore sees potential for a material downward revision of the company's current standalone credit profile.

The agency said it could revise downward Parpublica's standalone rating by more than one notch from its current BB to the B scoring category.

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