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Industry Report Card: Latin America Telecom & Cable Oct 03
Standard & Poors, October 2003
The expected negative trend for telecommunication companies in Latin America has resulted in further downgrades during the past six months, and translated into a higher default rate (39% of total rated companies are in default, compared to 26% as of April 7, 2003), mainly from telecom companies in Mexico, Venezuela, and the Dominican Republic. Although many of the defaulted companies have already started restructuring processes, there is still a lot of ground to cover. The trend for the rest of the companies is balanced (for rated companies with outlooks or CreditWatch assigned, see Chart 1); 22% have negative outlooks or are on CreditWatch with negative implications, 57% have stable outlooks, and 21% have positive outlooks or are on CreditWatch with...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Telefonica Chile S.A.
- Telefonica de Argentina S.A.
- Telecom Argentina S.A.
- Net Servicos de Comunicacao S.A.
- Multicanal S.A.
- Tricom S.A.
- Compania Anonima Nacional Telefonos de Venezuela
- Telefonica Holding de Argentina S.A.
- Innova S. de R.L. de C.V.
- Compania Internacional de Telecomunicaciones S.A.
- Satelites Mexicanos S.A. de C.V.
- BCP S.A.
- CableVision S.A.
- Telefonos de Mexico S.A.B. de C.V.
- Empresa Nacional de Telecomunicaciones S.A.
- Alestra S. de R.L. de C.V.
- Grupo Iusacell S.A. de C.V.
- Oi S.A.
- TIM Sul S.A
- TIM Nordeste Telecomunicacoes S.A.
- BSE S.A.
- Tele Norte Leste Participacoes S.A.
- America Movil S.A.B. de C.V.
- America Telecom S.A.B. de C.V.
- Vivo S.A.