The S&P Global has raised from CCC- to CCC+ the grade given to the Azul airline, with stable perspective. In a note, S&P attributed the decision to the prospect of less liquidity pressure over the next 12 to 18 months on the company’s finances, which recently issued R$1.7 billion ($340 mm) in convertible debentures, in addition to renegotiating contracts, including aircraft lease.
Source: Money Times
Enel Green Power has announced the start of construction of four wind farms and a solar one in the Northeast, which add 1.3 GW of new capacity. A total of about R$ 5.6 billion ($1.1 bn) will be invested in the construction of the projects. The new parks will be supported mainly by energy supply contracts negotiated with corporate clients in the free market and should start operating in 2021.
Source: Energia Hoje
Vivo, Tim and Claro acquired in auction the assets of Oi’s mobile telephony network for the price of R$16.5 billion ($3.3 bn). With the auction Oi will operate only the optical fibre network. Estimates point out that Vivo, Tim and Claro participation will rise from 33% to 37%, from 23% to 32% and from 26% to 29%, respectively.
The Central Bank has updated the financial market projection for the Broad National Consumer Price Index (IPCA), from 4.21% to 4.35% this year. As the institution highlights, the register represents the 18th consecutive high of the indicator, which surpasses the center of the inflation target, defined by the National Monetary Council (CMN) for this year, in 4%. The projection for 2021, of 3.34%, remained unchanged, as well as estimates for 2022 and 2023, of 3.50% and 3.25%, respectively.
Source: Agencia Brasil
The Gross Value of the Agricultural Production (GAP) of Brazil may reach the record of R$ 1.025 trillion ($200 bn) in 2021, estimated the Ministry of Agriculture in preliminary projection that has a good performance of both crops and meat sector next year. The expectation is that agriculture represents a high of 18.2% in relation to 2020, with R$ 707.7 billion ($141 bn). Livestock production should advance 10.7%, to R$ 317.5 billion ($63 bn).
Source: UOL Economia