Austin Rating – Negative Credit Watch for Federal Precatórios
May 14, 2009 Austin Credit Rating Agency has changed the outlook on a series of Precatório FIDC’s from Stable to NEGATIVE due to the possible negative impact of the PEC 12/06 as currently drafted. Of special concern to Austin is the Brazilian institutional investment framework which has a good track record, but that now, through this Constitutional Amendment Proposal, legislates several changes to Creditor Rights, including reduction of interest rate and change of payment rules for precatórios currently being paid.
see full report here (in Portuguese): 