Bar Governance standards are rising quickly, but some LatAm corporates are missing the boat. Brazil remains the regional standard bearer.
Category: 2009
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Ranking the Buyside: Beaten by the Index
Exceptional volatility caused by the global financial crisis has wiped out much of the last five years of hefty fund gains. Managers struggle to position for recovery.
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Ecuador Restructuring: Inside Job
Capitalizing on turbulence and pessimism in the international markets, Ecuador’s cunning has chopped millions from its debt burden.
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Compensation Survey: Brazil Pay Bottoms
Brazilian investment bank compensation may tumble this year, but recovery is in sight. Those institutions less impacted by crisis should still pay well.
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PARTING SHOT: Shock Proof
Global crisis may be the best time to consider sovereign upgrade, since ratings ultimately gauge ability to handle shocks. However, only a select few may get an upgrade.
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M&A: Esteves Claws Back Pactual
Cash-strapped UBS has sold its Brazil operations to BTG, a boutique run by André Esteves, who sold the same unit to the Swiss bank in 2006.
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STRUCTURED FINANCE: The Pledge Edge
LatAm issuers in need of funds continue to strive to convince lenders, whether they be commercial banks or governments, to extend financing during periods of market stress by pledging assets.
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Latin America and China: Fear of Commitment?
Chinese companies see a window of opportunity to scoop up LatAm businesses and are poised to invest much greater sums. However, the region demands firmer commitment.
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Petrobras-China: No Oil for Loans
Petrobras has secured a surprise jumbo financing from China in return for guaranteed oil supply. However, lack of detail suggests the deal may never be consummated.
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Brazilian Corporate Governance: Are New Rules Enough?
As regional default risk ticks higher, investors are looking much more closely at how companies are run. New Brazilian governance rules are welcomed, but will they prove toothless?