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Industry Report Card: Solid Financials Pave The Way For Convergence Among Latin American Telecommunication Companies Dec 07
Standard & Poors, Dec 2007
Abstract
In 2007, the Latin American telecommunications industry continued to benefit from the significant growth in mobile penetration (about 80% in Chile and Argentina and about 60% in Brazil and Mexico). Despite decelerating growth in the mobile subscribers' base in many countries in the region, Standard & Poor's Ratings Services expects rated companies' cash generation and financial metrics to improve in 2008. This should be the result of increased value-added services and improved margins in many cases--such as in Brazil and Argentina, due to the relatively lower proportion of acquisition costs in relation to total sales. Many operators in the region have launched third generation (3G) and 3.5G services that would consolidate value-added services. In the wireline business, despite the continued...
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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