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Loan defaults and other bills in arrears at Brazilian companies fell 8.5 percent in August from July, credit research company Serasa Experian said on Monday. Defaults rose 5.5 percent last month from August 2013. The drop followed a 12.9 percent spike in July, the biggest increase for the month since the data series began in 2000. Brazil's economic slowdown, combined with higher interest rates and wages, has lifted corporate defaults by 6.7 percent in the first eight months of 2014 compared to the same period of last year, Serasa said.