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Brazil’s Copersucar loses top sugar mill as industry woes deepen
date:Aug 17, 2015
ver the past year, inflating the unhedged dollar-linked debts of GVO and other mills. At the same time, sugar prices continue to drop.

The real devaluation impacted the companys capacity to pay its debt denominated in hard currency, Alves said, adding that GVO has stopped payment on its bonds awaiting fresh negotiations with bondholders.

So far, Alves has been able to keep GVO operating after securing deals with banks, suppliers and workers to forgo interest payments temporarily and postpone o

12/20 02:40