Lower-Rated Borrowers to Test Market
Despite a weak backdrop Monday, two split-rated borrowers and one junk name announced fixed-income investor meetings yesterday in a sign that the window may be opening for issuers further down the credit spectrum. This follows a series deals in recent weeks by solid blue-chips that have helped prepare the ground for others to follow. Arguably, Empresa de Energia de Bogota (EEB) and Instituto Costarricense de Electricidad (ICE) which begin roadshows today, are not traditional sub-investment grade names given their quasi-sovereign status, and they...
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