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Credit recovery in Brazil dips 6.9% YOY in February, Boa Vista says

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Credit recovery in Brazil dips 6.9% YOY in February, Boa Vista says

Credit recovery in Brazil fell 6.9% year over year in February, according to credit research company Boa Vista SCPC.

Compared to the previous month, the credit recovery indicator declined 4.1%. For the 12-month period ending in February, the index fell 0.6%.

The credit recovery indicator is derived from the number of removals from the delinquency records of Boa Vista's database.

The latest trend in the index points to the start of a process of default stabilization, following a long period of decline, Boa Vista said. The credit research firm expects a more consistent evolution in the indicator this year as the financial situation of families becomes more favorable due to developments in income and a decline in unemployment.