JBS pounces on Brazil rating certainty

By Oliver West
03 Apr 2014

Latin American bond bankers said the blow-out 10 year issue printed by meatpacker JBS on Monday showed several Brazilian issuers were more comfortable with issuing conditions since the sovereign's downgrade by Standard & Poor's last week.

With just over two months before the World Cup is likely to shut the issuance window for Brazilian borrowers, bankers are expecting a pick-up in supply.

“Brazilian issuers are enjoying the relief rally provided by the certainty of a downgrade over the uncertainty of a negative outlook,” said ...

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