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CAF Takes Ecuador Hit

Dec 18, 2008

S&P has slapped a negative outlook on CAF’s A+/A-1 rating amid concerns about exposure to Ecuador, which is in default, as well as Venezuela and Argentina. "We revised the outlook to negative because the credit risk embedded in CAF's portfolio rose sharply following Ecuador's decision to default on its bonded debt," says S&P credit analyst Lisa Schineller. Lending...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management