once worked for the US bank
“In an increasing interest rate and inflationary environment, the differential between the cost of investment grade and non-investment grade finance is becoming significantly wider, putting pressure on smaller suppliers,” the report says. Fitch last week slashed the former investment grade credit ratings of Brazilian retailer Americanas to junk status after the companyFitch said the disclosure reflected “several years of material weakness in the quality of the company’s financial statements, as well as the lack of transparency in its financial reporting, as reverse factoring information has not been adequately disclosed in its financial statement notes.
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