Corporate funding risk in the region growsFriday, October 3, 2008 Difficulty in accessing funds on the part of issuing companies in Latin America increased last year, Moody's rating agency indicated. Despite this, the agency emphasized that non-financial issuers in the region have a manageable exposure due to their access to local capital markets, their close relation with the banking sector and the relatively strong economic growth. ICE Will Not Oppose New CompetitorsTuesday, June 16, 2009 Through a document presented to Sutel, ICE withdrew its objections to the entry of competitors in the telecommunications market. The legal director of the Costa Rican Institute for Electricity, Erick Jiménez González, laid out in the document presented that the action is "with the purpose of collaborating in the regulatory process during the transition phase." Costa Rica: More Companies Show Interest in TelecommunicationsThursday, March 12, 2009 There are 14 companies that have already requested authorization from the Telecommunications Superintendent to offer services. Mercedes Agüero in an article in Nacion.com reported that some of the new applicants are: “Fibrotel SA, Karl del Este Investments, Publicidad and Internet Group Inc., Credit Car Services Ltd., Empresarios Limonenses Unidos (United Entrepreneurs from Limon) Agathrush and Call Me Way," and that "the Administrative Board of Cartago Electrical Services (JASEC) is also attempting to break into the telecommunications market with Internet and cable television services." Interest Rates Rise Forecasted in Costa RicaFriday, January 22, 2016 An announcement from Moody's confirms the limited room for maneuver left to the country when obtaining external financing, compromising access to credit for the private sector. Costa Rica has received a new warning over a possible lack of access to funds in the international market with which to alleviate its growing fiscal deficit. After China's decision not to buy $1 billion in bonds , the rating agency Moody's anticipates a rise in interest rates in the country and a deterioration of credit and growth. Company Profile Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
Risk Rating Downgrade ApproachingFriday, October 19, 2018 Moody's downgraded the long-term issuer ratings and the Costa Rican government's unsecured bonds. Yesterday the risk rating agency reported that expectations of a continued decline in fiscal indicators and evidence of increased financing needs are some of the reasons behind the decision to revise the country's debt rating. New Warning to Costa RicaFriday, November 16, 2018 Fitch Ratings reported that the country is under observation and for now maintains the rating at BB, awaiting what happens with the fiscal reform and the payment of government debt at the end of the year. Fitch Ratings, a U.S. risk rating agency, reported on November 15th that Costa Rica would be close to a sovereign rating downgrade because of the country's public finances situation. Costa Rica Ends 2018 with Another DowngradeFriday, December 21, 2018 Standard and Poor's announced that it downgraded Costa Rican bonds from BB- to B+, adding to Moody's downgrade in early December. Standard and Poor's (S&P) reported that the decision was made because the country's fiscal situation could generate a continuous increase in the general government's net debt burden. Moody's Downgrades Risk Rating to Costa RicaThursday, December 6, 2018 The rating agency reduced the long-term and senior unsecured bond issuer ratings of the Costa Rican government from Ba2 to Ba1 and changed the outlook to negative. According to Moody's, among the main factors behind the decline is the continued and projected worsening of debt metrics in the back of large deficits despite fiscal consolidation efforts. Analysis of Financial Sector in Central AmericaMonday, August 11, 2014 For the last four years the loan portfolio of the Salvadoran financial system has been growing at an average rate of 3.5%, below the 11% growth average in the rest of the region. A report produced by the rating agency Moody's notes that growth in El Salvador's financial sector has been stagnant since 2010, as the total loan portfolio has not achieved growth rates above 3.5% per year. The Waked Case In PerspectiveMonday, May 9, 2016 The identification of Grupo Waked in a money laundering network could result in significant changes in the representations of brands marketed in the country. An article on Prensa.com cites Jorge Garcia Icaza, president of the Chamber of Commerce, Industries and Agriculture of Panama, who emphasized that restraint should excerised when dealing with the case in order to minimize damage which it is estimated could be caused, especially in relation to jobs in the companies under question. Hostile Outlook for Central American BankingFriday, September 16, 2016 Moody's warns of the risks faced by banks in Central America in the context of a rising trend in interest rates and dollarization of their loan portfolios. From a report by Moody's: Risk Rating and Investment AttractionTuesday, March 19, 2019 The latest risk ratings for the issuance of long-term debt of Central American economies identify Panama as the most attractive country to invest in. On March 8, Moody's decided to raise its long-term issuer rating in foreign currency from Baa2 to Baa1, arguing that the outlook remains more favorable in the medium term. Bank Loans with Minimal Growth in 2012Wednesday, November 30, 2011 The Costa Rican banking sector is not predicting strong growth in credit placement for next year. According to Jimmy Hernandez, manager of Cathay Bank, it will be a year of "great caution" for the industry, not exceeding 10% growth in credit placement. Credit and the responsibility of the banksTuesday, January 13, 2009 It is indispensable for the economy to continue using credit to finance production and commercial operations. The analysis by Raul Moreira published in the La Estrella in Panama emphasizes that "the demand for internal credit by the private sector was at $31.6 billion in October and continued to grow at 20.38%, while deposits had an increase of 24.69%, which shows that the main source of financing for the expansion of credit comes from domestic savings by individuals. Prudence and caution is recommended for credit policies and it is important to maintain the rhythm of capturing funding." |
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