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Mexico Ruled Latin American Securitization Market in 1999 Jan 00
Standard & Poors, January 2000
NEW YORK (Standard & Poor's CreditWire) Jan. 14, 2000--Mexican transactions took center stage in Latin America's growing securitization market in 1999. After a rough year in 1998 following the worldwide developing market economic turmoil, securitization Latin America rebounded in 1999, with nearly $6.2 billion in transactions being done. Mexico's 60.5% share of the total deals done in 1999 came mainly from that country's big oil producer Petroleos Mexicanos (Pemex), which tapped the markets with a $2.55 billion future oil exports receivables-backed issue. The reappearance of cross-border existing assets securitizations characterized 1999, such as the $94.6 million issuance by Argentina's Representaciones de Telecomunicaciones. This is important considering that we expect an increase of this type of deals in 2000. The market...
Companies mentioned in this report are: Petroleos de Venezuela S.A.,Petroleos Mexicanos (PEMEX)
Action: S&P Event
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.
Petroleos de Venezuela S.A.,Petroleos Mexicanos (PEMEX)