South America
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It’s that time of year when analysts dust off their crystal balls and make predictions for the next 12 months. In December 2015 not many were forecasting that Britain would vote to leave the EU, and even fewer were betting on a Donald Trump presidential victory, so investors would be wise to treat such missives with caution. Political risk is a capricious beast, even for the most seasoned market observers. -
South American development bank Corporación Andina de Fomento (CAF) has elected Luis Carranza Ugarte, the former Peruvian finance minister, as executive president.
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Aeropuertos Argentina 2000, the Argentine airport operator, is looking to return to bond markets in 2017 with a 10 year deal of up to $400m.
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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.
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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.
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Things may finally be looking up for Odebrecht Engenharia e Construção (OEC), the engineering and construction arm of Brazilian conglomerate Odebrecht, after it came to a leniency agreement with Brazilian, US and Swiss authorities regarding its involvement in the Lava Jato corruption scandal.
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Chilean retailer SMU appears to be putting the worst of its financial troubles behind it as Moody’s granted the borrower another rating upgrade.
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Pulp and paper producer Suzano has sold its second green bond and the first in Brazil’s domestic markets.
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PDVSA is doing itself no favours by bending the truth about its financial situation. Bondholders are under no illusions about its troubles, so the company might as well be open with them.
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Pulp and paper producer Suzano has sold its second green bond and the first in Brazil’s domestic markets.
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PDVSA is doing itself no favours by bending the truth about its financial situation. Bondholders are under no illusions about its troubles, so the company might as well be open with them.
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Brazilian steel company Usiminas, which restructured its bank loans and domestic debt in September, has said it will attempt an exchange of its dollar 2018 bonds, which were not part of the restructuring.
