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April 25 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings published today, the Brazilian ‘Dashboard: Sugar and Ethanol’.
The report discusses the main factors driving the credit quality of Brazilian sugar and ethanol companies based on financial figures reported for the 2013-2014 season.
--Main Factor: Even though the bulk of the price decline has already occurred, the currently depressed prices of sugar and the uncertainties regarding the behavior of ethanol prices in Brazil make the market challenging and increase refinancing risks for most of its participants.
--What to Watch: Tight liquidity, high leverage and behavior of both sugar and ethanol prices.
A complete review of these topics and an overview of the sector are available at www.fitchratings.com.
Link to Fitch Ratings’ Report: Brazilian Sugar and Ethanol Dashboard