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As Latin America Enters Crisis Mode, Ritch Mueller Expects More Market Stratification, Refinancing Opportunities
While crises tend to create new opportunities for the legal community, the current pandemic-induced downturn is creating unique challenges – economic, professional and logistical – for companies and law firms alike. But when the dust settles, some restructurings and M&A deals are likely to come through, and law firms will need to stay alert to their clients' needs to make the most of it, says…
1 May 2020
Aramco Appears Well-Placed to Weather the COVID Storm, Analysts Say
Plummeting oil prices resulting from a drop-off in global demand and a simmering price war with Moscow has put a severe strain on Saudi Aramco’s balance sheet in the short-term. But in looking further ahead, the company appears well-placed the weather the current storm.
1 May 2020
With Fiscal Gaps Widening, Analysts See Romania Risking its Coveted Investment-Grade Status
As budget gaps widen to historical highs, Romania, one of Eastern Europe’s most frequent bond issuers, is at risk of losing its coveted investment-grade status, potentially hampering the country’s ability to satiate its growing need for funding.
1 May 2020
Costa Rica, Dominican Republic Given Emergency Lifeline by the IMF
The IMF has accelerated coronavirus-related disbursements of emergency funding to Latin America, with both Costa Rica and the Dominican Republic securing crucial financial assistance from the Fund.
30 Apr 2020
Emerging Europe Shifts from Dollars to Euros for Credit
Last year saw euro-denominated credit overtake US-dollar denominated credit for emerging European economies, standing at EUR377bn by end-2019, according to data from the Bank for International Settlements (BIS). The growth of euro-denominated credit outside the euro area slowed by 6% overall, however.
30 Apr 2020
Coronavirus Prompts UK Market Watchdog to Extend LIBOR Replacement Deadline
The UK Financial Conduct Authority (FCA) has extended the deadline for ending the use of the London Interbank Offered Rate (LIBOR) for new loans until the end of March next year in a bid to give borrowers and banks more breathing room as the market migrates to the Sterling Overnight Index Average (SONIA).
30 Apr 2020
COVID-19 Poses Severe Threat to South Africa’s Banking Sector - Fitch
The pandemic poses ‘significant downside risks’ to South African banks, according to Fitch Ratings, as asset quality and earnings face downward pressure.
30 Apr 2020
Off the Record: CFOs and Treasurers Target Working Capital Management and Supply Chain Support as Lockdowns Grip Markets
While governments and multilateral agencies announce a raft of measures to support businesses, banks, and individuals, UAE-based CFOs and treasurers batten down the hatches as focus shifts towards liquidity management, supplier support, and cost reduction.
29 Apr 2020
India Gets USD1.5bn From ADB to Finance COVID-19 Response as Domestic Borrowing Picks Up
The government of India has secured a USD1.5bn loan from the Asian Development Bank (ADB) to help fund its response to the COVID-19 pandemic, which has weighed heavily on the country’s growth prospects.
29 Apr 2020
Nigeria Pledges Switch to Domestic Market Funding as IMF Approves USD3.4bn in Support
Nigeria’s government plans to hold off borrowing internationally and instead tap the domestic market to finance the 2020 budget, the country’s president said this week. The move is seen as an important shift in government policy amidst tumbling oil prices and rising bond yields.
29 Apr 2020