Author: Dany Rogers Publisher: ISBN: Category : Languages : en Pages : 22
Book Description
This study analyzes the impact of imminent reclassification of credit rating on the decision-making regarding capital structure of non-financial corporations listed in Latin America. Despite the importance attributed by the market agents and the existence of empirical evidence of the effect caused by rating in the capital structure of companies in developed countries, this issue is still incipient in Latin-American countries. For this purpose, all the non-financial corporation owners of, at least one corporate rating issued by an international rating agency were taken into account, with the requirement of being listed on a stock exchange in at least one Latin-American country. Through a data panel analysis comprising the period between 2001 and 2010 and by making use of the Generalized Method of Moments (GMM), the main results that were achieved did not indicate that non-financial corporations listed in Latin America, with imminent reclassification of ratings, adopt less debts than those without an imminent reclassification of their ratings. These findings suggest that the imminent reclassifications of credit ratings do not present important information for managers of non-financial corporations in Latin America when making decisions about capital structure.
Author: Mr.Luis Catão Publisher: International Monetary Fund ISBN: 1484324765 Category : Business & Economics Languages : en Pages : 42
Book Description
Using a sample of over 700 banks in Latin America, we show that international financial liberalization lowers bank capital ratios and increases the shares of short-term funding. Following liberalization, large banks substitute interbank borrowing for equity and long-term funding, whereas small banks increase the proportions of retail funding in their liabilities, which have been particularly vulnerable to flight-to-quality during periods of financial distress in much of Latin America. We also find evidence that riskier bank funding in the aftermath of financial liberalizations is exacerbated by asymmetric information, which rises on geographical distance and the opacity of balance sheets.
Author: Inés Bustillo Publisher: ISBN: Category : Languages : en Pages :
Book Description
Abstract .-- I. Evolution of sovereign credit ratings .-- II. Impact of credit rating changes on debt spreads .-- III. Final thoughts.
Author: Inés Bustillo Publisher: CEPAL/ECLAC ISBN: Category : Business & Economics Languages : en Pages : 48
Book Description
This paper looks at the role of the Brady plan, which redefined Latin America's integration into the global economy during the 1990s, as well as the role of debt buybacks and swaps. The changes in the composition of sovereign debt throughout the decade and the behaviour of spreads are also analysed, including the influence of credit rating on Latin American bonds
Author: NU. CEPAL. Publisher: ISBN: Category : Languages : en Pages :
Book Description
Latin American and Caribbean debt issuers reached a historic milestone in the first quarter of 2021, with the highest quarterly issuance on record (US$ 52 billion) in international bond markets. Including April, regional bond issuance in international markets totalled US$ 65.5 billion in the first four months of 2021. In addition, green, social and sustainability bond issuance reached a new high of US$ 16.6 billion at the end of April, which included a surge in sustainability-linked bonds.Capital Flows to Latin America and the Caribbean: First four months of 2021 presents and analyses the developments concerning capital flows to Latin America and the Caribbean from January to April 2021. The Capital Flows report is published three times a year and provides an overview of new bonds from Latin American and Caribbean issuers, including green, social, sustainability and sustainability-linked bonds, as well as examining bond spreads and credit ratings.
Author: Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Capital Flows to Latin America and the Caribbean: 2021 in review and the first four months of 2022 presents and analyses the developments concerning capital flows to Latin America and the Caribbean in 2021and from January to April 2022. This report is published three times a year and provides an overview of new international bonds from Latin American and Caribbean issuers, including green, social, sustainability and sustainability-linked bonds, as well as of bond spreads and credit ratings.
Author: NU. CEPAL. Oficina de Washington Publisher: ISBN: Category : Languages : en Pages :
Book Description
Capital flows to Latin America and the Caribbean: 2020 year-in-review in times of COVID-19 presents and analyses the developments concerning capital flows to Latin America and the Caribbean in 2020. This report is published three times a year and provides an overview of bond issuances from Latin American and Caribbean issuers, including of green, social and sustainability bonds, as well as bond spreads and credit ratings.
Author: Inés Bustillo Publisher: UN ISBN: Category : Business & Economics Languages : en Pages : 144
Book Description
This publication examines how external debt financing has evolved in the past three decades (1982-2012). It looks back 30 years and analyses the Latin American and Caribbean region's trajectory from the unique perspective of access to international financial markets. As the title implies, this trajectory has been a rollercoaster ride, with many ups and downs, and moments of anticipation and panic. The developments of the past three decades as described in this book suggest that more widespread and cheaper access to international capital markets can play a role in the long process of achieving sustainable growth with equality, by broadening the options for financing investment and social initiatives. Despite the lessons learned and the progress over this period, many challenges remain. Structural change should be at the heart of a long-term growth process to make equality a reality.
Author: Dany Rogers
Author: Arturo J. Galindo
Author: Valeriya V. Drygina
Author: Mr.Luis Catão
Author: Inés Bustillo
Author: Inés Bustillo
Author: NU. CEPAL.
Author: 
Author: NU. CEPAL. Oficina de Washington
Author: Inés Bustillo