Peer Comparison: Latin American Fixed-Line Telecom Providers Dec 04
Standard & Poors, December 2004
Abstract
Telecommunications play an integral part in a country's development. As a result, the sector suffers, or enjoys, different levels of regulatory supervision, which link its creditworthiness to country risk and the level of regulatory support or interference of a given government. Latin America, where Standard & Poor's Ratings Services rates most of the largest fixed telecom players, is no exception. Credit quality is determined not only by the business and financial risk profiles of the participants but also by country-related risks, an important factor in a region with significant differences in operating environments among the main countries. Argentina's sovereign rating is still in selective default, Brazil's rating is gradually improving, Mexico is in the low investment-grade range, and Chile has...
Companies mentioned in this report are:
- Telefonica Chile S.A.
- Telefonica de Argentina S.A.
- Telecom Argentina S.A.
- Oi S.A.
- Tele Norte Leste Participacoes S.A.
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.
- Telefonica Chile S.A.
- Telefonica de Argentina S.A.
- Telecom Argentina S.A.
- Oi S.A.
- Tele Norte Leste Participacoes S.A.
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