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Industry Report Card: Latin American Telecommunications and Cable Oct 04
Standard & Poors, Oct 2004
Abstract
Credit quality within the telecommunication industry in Latin America has seen a positive trend, with the raising of the foreign currency ratings on Brazilian Tele Norte Leste Participa--es S.A and Telemig Celular, after Brazil's sovereign rating upgrade in September 2004, and the upgrade of the Chilean Empresa Nacional de Telecomunicaciones and Brasil Telecom (above the level of the sovereign in national scale) due to financial improvements. In addition, rated Argentine telecom and cable companies and Brazilian NET Servi-os de Comunica--o S.A have progressed on debt restructurings, which are expected to conclude between the end of 2004 and the first half of 2005. For rated companies with outlooks assigned (see chart 1), 88% have stable outlooks and 12% have negative outlooks...
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.
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