Americas

Fitch assigned a negative outlook to Latin America’s best-rated sovereign, Chile, on Tuesday as years of low growth finally catch up with the region’s most stable credits.

Bats Europe is to add several benchmark indices spanning French, German, Italian and Swiss markets and expects these to support derivatives products in the future.

Tradeweb Markets, the New York-headquartered fixed income, derivatives and exchange trader fund marketplace provider, has reported a big rise in credit volume for November in both the US and overseas.

Fitch said on Tuesday that there would be “no respite” for Latin American corporates in 2017 after record high defaults this year, although not all bond investors share the rating agency’s gloom.

US based-Novelis, part of Indian company Aditya Birla Group, has lined up a syndicate of 10 lenders to arrange an Asia loan that refinances a $1.8bn US term loan B from last year.

The Chicago Mercantile Exchange has appointed a president for clearing and post trade services, a newly created title at the firm.

IHS Markit has added CME Clearing to its MarkitSERV netting synchronisation service for cleared over-the-counter derivatives.

Philips is set complete the divestment of its lighting businesses next year, with US private equity firm Apollo Global Management agreeing to acquire its Lumileds LED unit at a $2bn valuation.

Fitch has partially blamed Donald Trump’s election as US president for hurting Mexico’s economic prospects after it became the third major rating agency to place the sovereign’s credit rating on negative outlook this year.

Two firms with Asian links canned their US floats this week, with InnoLight Technology Corp and Ironshore announcing they have dropped their listing plans.

Chinese e-commerce solutions firm Baozun has raised $73.5m after closing a follow-on placement multiple times covered, despite its stock having a wobbly start to the week.

Mexico’s Pemex put smiles on the faces of bankers and investors with a $5.5bn triple tranche bond issue on Tuesday, the first Latin American bond to be sold in the US since before the US election.