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As Brazil Heads For The World Stage, It Looks To Bolster Infrastructure Feb 10
Standard & Poors, Feb 2010
Abstract
Whenever Standard & Poor's Ratings Services reviews the sovereign rating on the Federative Republic of Brazil (foreign currency rating BBB-/Stable/A-3), we usually indentify the country's insufficient and inefficient infrastructure as one factor that can limit the country's sustainable growth. As the host of the 2014 World Cup and the 2016 Summer Olympics, the country's need to expand critical infrastructure now has hard deadlines. We expect that Brazil will have to spend as much as $500 billion in the next five years in areas as diverse as transportation, sports venues, power plants, water treatment facilities, and offshore oil projects. In the past two years, Brazil has funded priority infrastructure investments with help from the national development bank, Banco Nacional de Desenvolvimento...
Companies mentioned in this report are: Brazil (Federative Republic of),Banco Nacional de Desenvolvimento Economico e Social,Eletrobras-Centrais Eletricas Brasileiras S.A.,Banco do Brasil S.A,ITA Energetica S.A.,Itapebi Geracao de Energia S.A.,Baesa - Energetica Barra Grande S.A.,Autoban - Concessionaria do Sistema Anhanguera Bandeirantes S.A.,Ecovias-Concessionaria Ecovias dos Imigrantes S.A.,Concessionaria de Rodovias do Oeste de Sao Paulo 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.
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