Brazil court approves R$3.4bn recovery plan for Andrade Gutierrez

A Brazilian court approved extrajudicial recovery plans for six Andrade Gutierrez companies, covering R$3.4bn in debt at the main engineering unit. This is the group's second restructuring in under four years, signaling persistent financial distress in Brazil's construction sector. The approval binds all covered creditors, reducing near-term default risk but highlighting ongoing credit stress.