CHICAGO--(BUSINESS WIRE)--Fitch Ratings' outlook for the Latin America construction sector is negative for 2015, reflecting, in part, the agency's decision to place all Brazilian heavy construction companies on Rating Watch Negative.
The rating action taken on Nov. 19, 2014, reflects Fitch's concerns about the financial and business impact upon these corporates of corruption allegations regarding contracts between Petrobras and multiple companies in the sector. More clarity on these issues is expected within six months of 2015, and individual ratings will be adjusted accordingly at that time.
Construction companies domiciled in countries with solid infrastructure support from public and private investments should expect ratings to remain stable in 2015.
The full report '2015 Outlook: Latin America Cement' is available at 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research: 2015 Outlook: Latin America Construction (Negative Outlook Driven by Brazil)
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=833808
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