STXNEWS LATAM-Brazil corporate defaults rise at slowest pace in 2 yrs -Serasa

Tue Apr 30, 2013 8:11am EDT

Companies in Brazil fell behind on their debt payments in the first quarter at the slowest pace in two years, credit research company Serasa Experian said on Tuesday. According to a report, corporate defaults rose 0.1 percent in the first three months of the year, thanks to the impact of an improving economy and the effects of a reduction in consumer defaults that is bolstering revenue for companies, Serasa added.

Corporate defaults fell 3.9 percent from the year-ago period, the company added.