	manufacturers mhc puts brazil on non accrual manufacturers hanover corp said it placed billion dlrs of medium and long term loans to brazilian borrowers on non accrual as of yesterday meaning that income will be recorded only when actual cash payments are received as a result net income for the first quarter will be reduced by mln dlrs if brazil which suspended interest payments on its term debt on february continues to defer interest payments for the rest of the year net income for the whole of would be reduced by a total of mln dlrs u s bank accounting guidelines do not require loans to be placed on nonaccrual unless interest payments are past due days or more however manufacturers hanover said that in light of current circumstances it was more appropriate to record income on its brazilian loans only when cash payments were received it added that it believes brazil will reach agreement with its banks on a debt restructuring and that all interest payments will be received later in the company ed mln dlrs in first quarter and mln dlrs for the whole of the year reuter 
