Brazil has become a difficult operating environment for a number of large domestic and for some international companies. It is in year two of one of the steepest recessions experienced in a generation. The Brazilian real is depreciating sharply, inflation has pushed up into two digits, the country has some of the highest interest rates in the world, and the investigation of a major corruption scandal around state oil company Petrobras has spread like a spiders’ web to compromise many of its private contractors and suppliers. Companies are taking a battering, and doubts are rising over their ability to service high levels of corporate debt. How bad is it?End of preview - This article contains approximately 1150 words.
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