STXNEWS LATAM-Pace of Brazil corporate defaults slowed in 2013-Serasa

Thu Jan 30, 2014 6:53am EST

Corporate delinquencies in Brazil, ranging from defaults on bank loans to unpaid credit card and utility bills, grew 2.5 percent in 2013, compared with a 10.4 percent increase in 2012, credit research company Serasa Experian said on Thursday.

The pullback was due primarily to a fall in consumer delinquency rates, but was limited by the impact of higher interest rates and a weaker local currency last year. Delinquencies by small-, mid- and large-sized firms fell 1.9 percent in December from November, Serasa said.