Moody's cuts Viver, debentures

Moody's Investors Service said it downgraded Viver Incorporadora e Construtora SA's corporate family rating to B2 from B1 on the global scale and to Ba2.br from Baa2.br on the Brazilian national scale.

At the same time, the agency said it downgraded Viver's R$300 million senior secured debentures due in 2016 to B2 from B1 and to Ba2.br from Baa2.br.

The outlook for all ratings remains negative.

Viver's ratings downgrade to B2 follows Moody's rating action published on July 10, when the agency said it changed the outlook to negative from stable.

The current rating action was triggered by a further deterioration on the company's credit metrics and liquidity position.

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