The Best Companies in Latin America
May 1, 2009
The list of top LatAm corporates contains a few surprises. They all have one thing in common: a robust financing strategy and conservative outlook.
by Dan Shirai
On a rainy April morning in Manhattan, Vale CFO Fabio Barbosa unleashes a dissertation on his company’s obsession with capital markets and funding. The finance brains behind the world’s second largest mining company by market cap joins senior executives from other leading LatAm firms to address apprehensive MBAs. Unlike most other presentations – which resemble fluffy adverts decorated with maps and timelines – Barbosa’s PowerPoint is a real-world lesson in the principles of corporate finance. Capital markets savvy underpins Vale’s success, making it a top pick in this year’s LatinFinance survey of the best corporates in the region. Amid continuing volatility and uncertainty, there is a clear bias towards conservative financial and strategic practice. Our two classes of corporates – the larger, more widely covered names like Vale that make up the core portfolio and a clutch of rising stars – offer a compelling case for investment. “In...
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