Brazil firms face no debt headwinds, Itau executive says

viernes 13 de marzo de 2015 11:41 GYT
 

By Guillermo Parra-Bernal

MOGI MIRIM, Brazil, March 13 (Reuters) - A slump in Brazil's currency is likely to help the nation's companies by making them more competitive and poses little debt refinancing risks for them, a senior executive at Itau Unibanco Holding SA said on Friday.

The fact that Brazil has more foreign currency-denominated assets than outstanding debt allows companies to obtain financing and refinance current obligations in a normal way, said Candido Bracher, general director for Itau's wholesale banking division, or DGA.

The real plunged to 3.25 to the dollar on Friday, its weakest level since April 2003, as political uncertainty escalated. (Editing by Reese Ewing and Chizu Nomiyama)