Brazil’s Latest Corporate Troubles Remain Contained: JPM

While several recent “idiosyncratic situations” have emerged in Brazil or among Brazilian-linked companies, their impact remains contained and far less significant than in past situations, according to JPMorgan.

• “Unike Americanas, which had an unexpected and swift default in 2023 leading to Brazilian capital markets — both onshore and offshore — to shut down temporarily, Braskem and Ambipar are having minimal spillover impact to the onshore Brazilian markets as the risks for Ambipar were well flagged locally and concerns regarding Braskem are also well understood,” analysts led by Luis Oganes wrote in a report
• Ambipar is among a “handful” of governance-related ...