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Boa Vista SPC: Bankruptcy requests in Brazil up through September

Bankruptcy requests in Brazil ticked up 16.7% in the aggregateperiod between January and September, while judicial recovery filings 70.2%, according to figuresreleased by credit research firm Boa Vista SCPC.

Overall, bankruptcies increased 11.9% in the year to date, whilein September alone it rose 7.9% from August and 22.5% year over year. Similarly,the number of approved judicial recovery proceedings jumped 68.1%, 99%, and 53.2%,respectively.

According to Boa Vista data, small enterprises accounted forabout 86% of bankruptcy applications and 92% of bankruptcies decreed, as well asfor 93% of both judicial recovery requests and approvals.

The credit firm maintained its previous forecast of an upwardtrend for corporate bankruptcy and judicial recovery proceedings this year despiterelative improvement in the country's macroeconomic expectations.