Brazil Securitization: Looking Up

Brazil Securitization: Looking Up


by Ben MillerStunted liquidity, diminished risk appetite and a general aversion to complicated debt instruments have squashed structured finance markets all over the world. In Latin America, Mexico’s trailblazing RMBS and ABS markets have ground to a halt for all but government-backed securities. Countries that were just getting started with basic structures, such as Peru, have sustained setbacks.Following a lull during the credit crisis, Brazilian issuers and investors look to confront price and liquidity concerns and revive structured finance just as the overall economy springs back to life. They may end up benefitting from a relative lack of sophistication.The tone was optimistic and

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