Moody's Cuts Aegea Deeper Into Junk as US$7 Billion Debt and Accounting Delays Mount

Brazil · Business

Key Facts

—The action On May 5, 2026 Moody’s cut Aegea’s corporate rating to B2 from Ba3, two notches deeper into junk.

—The trigger Repeated delays in Aegea’s audited 2025 accounts and restatements flagged by auditor KPMG.

—The debt Group pro-forma net debt of R$36.7 billion (about US$7.1 billion), near 4.1 times earnings in early 2025.