HY Ratings Trending Downward: Fitch

HY Ratings Trending Downward: Fitch

Corporate & Sovereign Strategy

LatAm high-yield corporates will likely see more downgrades than upgrades in 2014, Fitch says. “Economic conditions in Brazil look to be moderate at best in 2013, which should prevent a wholesale improvement in negative credit trends,” it says, noting Brazilian and Mexican corporates make up 34 of the 50 largest high-yield issuers in LatAm. The agency’s portfolio shows 16% of the issuers with a negative rating outlook and only 6% with a positive rating outlook, and pressure for downgrades also o

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