Brazil loan defaults rise in July to highest this year
BRASILIA Aug 26 (Reuters) - Loans delinquent for at least 90 days in Brazil rose to the highest level this year, the central bank said on Wednesday, a sign that a widespread downturn and rising borrowing costs are preventing companies and consumers from staying current on their debt.
The so-called 90-day default ratio, a benchmark for credit delinquencies, rose to the equivalent of 4.8 percent of outstanding non-earmarked loans last month, compared with a revised 4.6 percent ratio in June, the central bank said in a report.
(Reporting by Marcela Ayres; Writing by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)
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