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Daily Brief

Dec 07, 2009 Issue

LatAm Set for Recovery: Moody’s

Moody’s LatAm sovereign regional credit officer Mauro Leos believes LatAm will see growth during the next two years, as currencies continue to appreciate and liquidity be...

Venezuela Seen Seizing More Banks

Fitch believes that the controls the Venezuelan government imposes on banks, which makes their operations more challenging, could result in further government actions. Th...

Globo Grade Rises

Brazil

Fitch has raised Brazil’s Globo Comunicacao e Participacoes to BBB (stable) from BBB minus, including $325m in 9.375% perpetual notes issued in 2006 and $200m in 7.25% co...

IDB Signs Barbados and Nicaragua Facilities

Bonds Structured Finance

The IDB has approved loans for Barbados and Nicaragua. Barbados will get 2 facilities, one for $50m and another for $20m. The larger loan will help the Barbados Water Aut...

Inflows Keep Coming to LatAm

Funds

LatAm equity funds received inflows of $34m in the week ended December 2 while Brazil funds got $110m, says EPFR Global. GEM equity funds pulled in $687m. The inflows wer...

EM Bonds Still in the Black

Funds

EM bond funds continue to see inflows, gaining $229m on the week ended December 2, according to EPFR Global. It adds that funds investing in local currency debt accounted...

Peru-Brazil Consortium Wins Electric Train

Brazil

A consortium formed by Brazil's Odebrecht and Peru's Grana y Montero has won the bid to complete Lima's above-ground light rail, known as the Electric Train. It beat out ...

Mexichem Inflates Buyback Fund

Mexico

Mexico-based chemical company Mexichem is increasing its share buyback fund to MXP1bn from MXP400m, it says in a regulatory filing. The company adds that any share buybac...

Transelec Places Second Tranche

Chile

Chilean power-transmission company Transelec placed UF1.6m ($67.6m) in local bonds through a Dutch auction at 100.09 to yield 4.59% on Friday. According to the filing, du...

Chilean Soccer Club Scores IPO

Equity

Cruzados, the holdco for the Universidad Catolica soccer team, has raised CLP12.4bn ($24.8m) in the second Chilean IPO of the month. It sold 30m primary and 10m secondary...

CBD, Bahia Form Retail Behemoth

Brazil

Brazilian retailer CBD, which owns the Pao de Acucar market chain and Globex, the controller of the Ponto Frio chain, announced it is merging with Casas Bahia, one of the...

Mexico Seen Offering Value

Brazil

With demand making Brazilian assets expensive in 2009, 2010 may be a year to find value in Mexico as EM continues to recover. “All of the bad news in Mexico has been pric...

Equity Issuers Go Down to Wire

Brazil

IMC, the Brazil-heavy restaurant and franchise holding company belonging to private equity firm Advent, wants to go public December 17. This is likely to be the very last...

Mexico Concessionaire Looks to Brazil

Mexico

With US and Mexican economic troubles causing a dip in passenger traffic and uncertainty surrounding projects in Mexico’s infrastructure agenda, Grupo Aeroportuario del P...