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Brazilian conglomerate Cosan narrows its loss and slashes debt by 46% as rail unit Rumo doubles Q4 profit
Brazilian energy-to-rail group Cosan narrowed its Q4 adjusted loss by 56% and halved expanded net debt, while its logistics arm Rumo doubled fourth-quarter adjusted net profit.
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Brazilian conglomerate Cosan narrows its loss and slashes debt by 46% as rail unit Rumo doubles Q4 profit
Brazilian energy-to-rail group Cosan narrowed its Q4 adjusted loss by 56% and halved expanded net debt, while its logistics arm Rumo doubled fourth-quarter adjusted net profit.
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Cosan Crisis Contagion Hits Brazil Rail Giant Rumo
S&P downgraded Rumo to BB- and placed it on CreditWatch Negative, citing contagion from controlling shareholder Cosan, which Moody's cut to Ba3 in.