Creditors of Brazilian steel producer and distributor A??o Cearense earlier this month approved a plan for the company's business recovery which included a restructuring of most of its debt.
The company reached a deal with its creditors on November 9, in a meeting attended by 82% of its creditors, which between them held 98% of the company's debt.A??o Cearense filed for bankruptcy protection in May 2017, after being affected by problems in the country's steel sector.When it filed for bankruptcy protection, A??o Cearense's total debt was 1.83 billion Reais ($488.6 million), and its main creditors included...