LatAm Bonds
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The global credit crisis filtered through into ratings actions for Latin American corporate issuers this week. Mexico’s Cemex was the biggest name to get a cut, dropping one notch to BBB- from Standard & Poor’s on Tuesday, while Moody’s shifted its stance on Brazilian mid-cap banks.
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The Republic of Peru is planning to sell a 30 year global bond, hoping to reopen the market for Latin American issuance. But as markets continue to plummet bankers are sceptical about it going ahead.