The Credit Overhang: How Well Can Latin American Corporates Weather A Hard Landing For Europe?s Economy? Jul 12
- Language: English
- Published: July 2012
- Region: America (exc North), Europe
MEXICO CITY (Standard & Poor's) June 7, 2011--Standard & Poor's Ratings Services said today that the June 5 victory of left-wing candidate Ollanta Humala in the Peruvian presidential election does not immediately affect our ratings on Grupo M-xico S.A.B. de C.V. (foreign currency: BBB-/Stable/--) and its subsidiaries Americas Mining Corp. (BBB-/Stable/--) and Southern Copper Corp. (BBB-/Stable/--), the latter of which operates two open pits (Toquepala and Cuajone) and one metallurgical complex (Ilo) in Peru. In our view, Mr. Humala's rhetoric moderated during the election as he tried to dispel some of the antimarket perceptions that investors have had since the 2006 elections. He publicly supported maintaining current economic policies, except that he proposed increasing taxes on the mining sector. Mr....
Companies mentioned in this report are: Grupo Mexico, S.A.B. de C.V.,Southern Copper Corp.,Americas Mining Corp.
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.
Grupo Mexico, S.A.B. de C.V.,Southern Copper Corp.,Americas Mining Corp.