Brazil's Rio Alto works with advisers for restructuring

(Bloomberg) – The Brazilian renewable energy enterprise Rio Alto Energias Renovaveis SA works with financial advisory firm Llace Finanças and the law firm Felsberg Advogados as advisors for debt restructuring, according to people who are familiar with the case. Laplace and Felsberg helped Rio Alto negotiate with its creditors to reach an agreement, as the company attempts to avoid submitting bankruptcy protection, people said and asked not to be mentioned because the discussions are private. The company, a Sao Paulo-based renewable energy construction firm that builds and operates solar projects, in February 60 days submitted a precaution to protect itself from creditors, and received an extension of the stopping time for an extra 60 days, people said. Rio Alto did not respond to messages commenting. The renewable energy sector is under tensions in Brazil, with various businesses struggling financially, cutting costs and restructuring debt. The power supply is limited by the timetable operator due to oversupply, low demand and limited transmission capacity, at a time in which interest rates have reached two decade. Fitch Ratings downgraded Rio Alto’s local notes of AA of AA after the company missed a scheduled interest payment in April that was suspended by the court, although bank guarantees were still valid. ‘Although the debentures are supported by irrevocable, non-backal and proportional guarantees of Banco BTG Pactual SA, Banco Sumitomo Mitsui Brasileiro SA, and Banco Alfa de Investimento SA (Banco Alfa), a pre-mate of the early adulthood, which occurs, Valued, ‘Report. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP