Moody’s: BR Properties view negative

Moody's Investors Service said it affirmed BR Properties SA’s senior unsecured rating at Ba3 and concurrently revised the outlook to negative from stable.

This action reflects BR Properties' exposure to the continued sluggishness and near-term weak growth prospects of the Brazilian economy, greater risks and volatility related to its fixed-charge coverage as well as higher vacancies in the Sao Paolo and Rio de Janeiro office sub-markets, Moody’s said.

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