SAO PAULO--(BUSINESS WIRE)--Fitch Ratings has downgraded Brookfield Incorporacoes S.A. (Brookfield Incorporacoes) and Brookfield Sao Paulo Empreendimentos Imobiliarios S.A. (Brookfield SP) ratings, and related issuances, as follows: Brookfield Incorporacoes --Long-term foreign currency Issuer Default Rating (IDR)to 'BB-' from 'BB'; --Long-term local currency IDR to 'BB-', from 'BB'; --Long-term National Scale rating to 'A+(bra)'from 'AA-(bra)'; --BRL100 million first debenture issuance due 2013 to 'A+(bra)' from 'AA-(bra)'; --BRL366 million second debenture issuance; first series of BRL285 million due in 2014 and second series of BRL81 million due in 2016,to 'A+(bra)' from 'AA-(bra)';...
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