The aim of the new regulations proposed by the Superintendency of Securities (SMV) is to provide more information on the emissions market for investors, so that they can "... make investments according to their risk profile, " said Marelissa Quintero, chief of the SMV to Prensa.com.

The requirement of having a credit rating already exists in markets such as Costa Rica and Colombia. "... In the view of financier Alvaro Naranjo, the local market is already accustomed to issuers having a credit rating, which provides an opinion on the entity that is issuing the debt. Although he was in favor of greater transparency, he said "the fact that each specific issue should have a rating, I think will make things more expensive. I think if the issuer already has a rating, that should be enough.'"

".. Quintero also referred to defaults by the issuers RG Hotels and La Generosa. He said 'this experience is an opportunity to make changes and verify what is important in order to it include in the regulations so as to protect investors'."

Source: Prensa.com

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