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Boa Vista: Bankruptcy filings in Brazil fall 26.1% YOY in January

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Boa Vista: Bankruptcy filings in Brazil fall 26.1% YOY in January

Bankruptcy filings in Brazil declined 26.1% in January compared to the same month in the previous year, according to data from credit research firm Boa Vista SCPC.

In the 12-month period through January, the indicator fell 19.0% while it declined 29.2% compared to December 2017.

Meanwhile, applications for judicial recovery decreased 20.2% during the same 12-month period.

"After the period of intense economic activity, reduction of consumption, restriction and increase in credit, companies are now showing stronger signs of solvency indicators, a trend that should be maintained due to improvements in interest rates, spreads [and] inflation, among other factors," the credit research firm noted.

Judicial recoveries are part of Brazil's bankruptcy law where debtors must present creditors with a recovery plan to pay back debt.