Latin America

  • Fitch slashes Pemex as Mexico concerns grow

    Fitch slashes Pemex as Mexico concerns grow

    As investors single out Mexico’s response to Covid-19 as one of the least convincing in Latin America, Fitch threw government-owned oil company Pemex and its $80bn of bonds deeper into sub-investment grade territory on Friday.

  • Ecuador creditors await Correa decision amid recovery analysis

    Ecuador creditors await Correa decision amid recovery analysis

    Owners of Ecuador debt are expecting the country’s legal system to rule on whether Rafael Correa, former president and one-time bond market foe, can participate in next year’s elections. As they plan for the South American nation’s expected restructuring, some analysts spy upside to latest secondary prices.

  • Arg gives debt guidance but default worries rise

    Arg gives debt guidance but default worries rise

    As the initial government-imposed deadline for Argentina’s mammoth debt restructuring sailed by without a concrete offer to creditors having been put on the table, some analysts are worried that a hard default may be inevitable.

  • Lat Am wanderlust likely to resist virtual reality

    Lat Am wanderlust likely to resist virtual reality

    Bond market participants in Latin America are gradually accepting that Zoom video calls will become a permanent feature of their job. However, in this particularly travel-intensive segment of capital markets, when it comes to selling a product, neither issuers nor bankers appear willing to cut down visits to clients in a region where personal trust is arguably more important than anywhere else.

  • Colombia IG status teeters despite former fin min pleas

    Colombia IG status teeters despite former fin min pleas

    Two major rating agencies now have Colombia on the lowest rung of the investment grade ladder with a negative outlook after Fitch took action on the sovereign. Cries from former finance ministers that it was an inappropriate time for downgrades fell on deaf ears.

  • Lat Am bonds expected with US IG market on fire

    Lat Am bonds expected with US IG market on fire

    Emerging market bonds are trying to catch the same bid that has gripped investment grade markets, particularly in the US. Now, Latin America borrowers are scavenging once more for chances to print new issues.

  • Lat Am corps take liquidity measures as refi risks loom

    Lat Am corps take liquidity measures as refi risks loom

    Latin American corporates from across the rating spectrum are taking a range of measures to protect their liquidity in the face of the Covid-19 slowdown, but analysts suggest several defaults are inevitable as the region is hit on several fronts.

  • Mexico's Idesa offers more info to push through distressed swap

    Mexico petrochemicals company Grupo Idesa on Monday issued a supplement to the offering memorandum on a distressed bond swap as it attempts to avoid default by persuading bondholders to push out the maturity on a $300m bond due in December.

  • Panama secondary performance encourages EM bonds with MDBs set to power up

    Panama secondary performance encourages EM bonds with MDBs set to power up

    Emerging markets face at least $2.5tr of financing needs and do not possess the resources to fund themselves, said the IMF on Friday. But with bond markets continuing to improve and multilateral development banks increasing their firepower, prospects for EM funding are at least looking more promising than a week ago.

Latin America News Archive