# Tag: Fitch Ratings

- [Oncoclinicas Cut to ‘CCC-’ as Fitch Flags High Restructuring Risk](https://brazilstockguide.com/insights/oncoclinicas-fitch-downgrade-ccc-debt-risk/) (2026-02-26): Rating agency warns of sub–R$100m cash, heavy maturities and negative cash flow through 2026.
- [Fitch cuts CSN on leverage strain, flags negative watch amid asset-sale gamble](https://brazilstockguide.com/insights/fitch-cuts-csn-rating-negative-watch/) (2026-02-02): Downgrade reflects persistent leverage above peers, negative free cash flow and refinancing risks as the Brazilian steelmaker races to sell assets to shore up capital structure.
- [Raízen Cut to BBB- by S&P, Sliding to Edge of Investment Grade](https://brazilstockguide.com/insights/raizen-sp-downgrade-bbb-minus-credit-ratings/) (2025-12-15): Rating agency cites delayed deleveraging and cash burn as Moody’s already treats credit as high yield.
- [Fitch Cuts EMAE to ‘AA(bra)’ as Governance Breach Triggers Evolving Watch](https://brazilstockguide.com/insights/emae-fitch-downgrade-governance-liquidity-sabesp-privatization/) (2025-11-25): Fitch flags liquidity erosion after R$395 million in transactions tied to Light and Banco Master, placing the São Paulo generator under heightened scrutiny.