Latin America retailer Cencosud writes down Brazil assets
SANTIAGO Aug 28 (Reuters) - Latin American retailer Cencosud said it had adjusted its forecast flows for Brazil on worries over its economy, which had led it to a write-off of goodwill related to its assets in the country.
"The reduction in the value of Brazilian assets has no effect on the cashflow expected for the year, nor the company's compliance with its ability to pay and its covenants," the Chile-based company said on Friday alongside second-quarter results.
However, its ability to pay dividends could be limited in 2015, it added.
Cencosud owns supermarkets, home improvement chains, and department stores in Chile, Peru, Argentina, Colombia and Brazil. ($1 = 691.8300 Chilean pesos) (Reporting by Rosalba O'Brien; Editing by Chizu Nomiyama)
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