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Brazilian Consumer Loan ABS Index Discusses Whether Consumer Debt Is Rising Too Fast
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
SAO PAULO (Standard & Poor's) May 5, 2011--Nonmortgage consumer loan origination activity by Brazilian financial institutions increased significantly during 2010, thanks to the continued resilience of the country's economy. And Standard & Poor's Ratings Services believes these trends will continue through 2011, according to its recently published Brazilian consumer loan asset-backed securities (ABS) index. As of Dec. 31, 2010, the total nonmortgage consumer loan balance was approximately 9.4% of Brazil's GDP in 2010, compared with 8.1% in 2009. In addition, the outstanding balance of consumer loans (personal and auto loans) was Brazilian real (R$) 346 billion, compared with R$254 billion as of Dec. 31, 2009. While this growth is generally a positive sign, the speed at which Brazil's economy, and...
Action: General Comment
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