Rio Mais, Olympic Park concessionaire, enters judicial recovery with R$7.5bn debt

A Rio de Janeiro court accepted the judicial recovery request of Concessionária Rio Mais and subsidiaries, with debt of R$7.5 billion, ~95% owed to Caixa Econômica Federal. The company, which built and operates the Olympic Park, faces financial distress; the recovery process will test creditor negotiations and asset viability.