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Industry Report Card: Latin American Telecommunications And Cable Companies Enjoy Healthy Economic Conditions Jul 08
Standard & Poors, July 2008
Abstract
Most telecom and cable companies in Latin America continued to benefit from favorable business conditions and healthy cash generation through the first half of 2008. Further growth in Internet and mobile businesses supported this. Mobile penetration reached 70% in Brazil, 66% in Mexico, and more than 90% in Chile and Argentina. However, the mobile business grew at a decelerating rate as the industry matured. But margins have improved for mobile players in Brazil and Argentina as acquisition costs declined relative to total sales. For the rest of 2008, Standard & Poor's Ratings Services expects telecom and cable operators in the region to continue to exhibit healthy cash generation and financial metrics despite their still significant investment plans. Successes in selling...
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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