Worried about the contamination effect that the R$ 20 billion accounting scandal of Americanas could generate on the image of the Brazilian capital market, directors of large publicly traded companies are discussing whether it is necessary to make a joint position on the case.
The fear for the market’s reputation goes beyond retail and affects other sectors. Any position, however, would have to be made after firm clarification by the company itself and the CVM (Securities and Exchange Commission) with details of what happened.
Even so, it would be a generic statement with recommendations for best practices and controls, as well as a defense of the Brazilian market.
This Monday (16), S&P Global downgraded Americanas’ credit rating from “B” (on the global scale) and “brA-” (on the Brazilian national scale) to “D”, which means a default situation (default). ).
The decision came after the retailer obtained an injunction, on Friday (13), to protect itself for 30 days against early maturity of debts, a period that can be used to seek an agreement with creditors or file for judicial recovery.
Fitch had also downgraded Americanas’ credit rating, on the global scale, from “BB” to “CC”, and from “AA+(bra)” to “CC(bra)” on the national scale, two levels above the default threshold. (“D”).
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