BUSINESSTHE RIO TIMES
Cosan Narrows Q2 Loss as Deleveraging Drive Takes Hold
Cosan reported a narrowed Q2 net loss of R$946 million (US$186 million), a reduction of R$719 million from the previous year. Gross debt decreased to R$21.5 billion (US$4.2 billion) due to liability-management actions over twelve months, while net debt remained stable at R$17.5 billion (US$3.4 billion).
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Adjacent reporting
- Brazilian conglomerate Cosan narrows its loss and slashes debt by 46% as rail unit Rumo doubles Q4 profit
- Cosan Sells $345m of Farmland to Chip Away at Its Big Debt
- Canaan posts $88.7 million Q1 net loss as revenue lands in line with guidance
- Moody’s Cosan Downgrade Hits B1 as Debt Fears Spread
- Cosan Crisis Contagion Hits Rumo as S&P Cuts Rating
- South Korea Set to Reduce Debt Sales in June as Bonds Slump