LatAm Bonds

Peruvians cheered this week as a ratings change pushed their country fully into investment grade terrain, while Mexico dismissed its downgrade, saying the country’s financial situation was a greater influence on investor sentiment.

Brazil hit the market for a successful "drive-by" tap of its January 2019 bonds this week, showing that investors are still buying credits at a time of year which is often closed to new issuance.

The shock downgrade of Greek government debt by Standard & Poor’s this week to BBB+ from A-, after placing the country on CreditWatch negative only last week, has intensified pressure on the sovereign’s bond spreads and the viability of its 2010 funding programme.