Rumo
Coverage of Rumo in the Nexus archive.
- Rumo Hits Record 23.8 Billion TKU in Second Quarter
Rumo transported 23.8 billion TKU in Q2, setting a company record and surpassing the 21.8 billion TKU from the same quarter last year. Soybean shipments led growth, with over 4 billion TKU transported in June alone. The result exceeded BTG Pactual’s forecast.
- Cosan Crisis Contagion Hits Rumo as S&P Cuts Rating
Cosan was downgraded by Moody’s to Ba3, and S&P cut Rumo’s rating to BB- due to Cosan’s financial struggles. Raízen is further exacerbating the crisis linked to Cosan’s energy sector issues.
- Brazilian conglomerate Cosan narrows its loss and slashes debt by 46% as rail unit Rumo doubles Q4 profit
Brazilian conglomerate Cosan reduced its expanded net debt by 46% in a single quarter, from R$18.2 billion to R$9.8 billion, while its rail unit Rumo more than doubled its adjusted net income to R$441 million in Q4.
- Cosan Drops the Denials and Puts Its Rumo Stake in Play
Cosan confirmed it is evaluating alternatives for its stake in railway Rumo, including a partial sale, and has hired BTG Pactual to manage the process. The company holds approximately 20% of Rumo, Brazil's largest railway.