El Salvador Financial News
Guatemala says Centam bourse would attract capital
PANAMA CITY, Jan 25 (Reuters) - Central American countries could attract more foreign capital for their companies by pooling their stock exchanges into a single market, Guatemalan Foreign Minister Luis Fernando Andrade said on Friday.
Andrade, in Panama for a summit of Caribbean foreign ministers, said an integrated Central American bourse could boost economic growth and competitiveness and foster closer economic ties in the region.
Included in this proposed financial market would be El Salvador.
[via Reuters]
Fitch Affirms Banco HSBC Salvadoreno’s LT IDR at ‘BBB-’
–HSBCS’s support and Issuer Default Ratings (IDRs) are driven by Fitch’s view that there is a high probability that support from its controlling shareholder, HSBC Holdings plc (Long-term IDR: ‘AA’ with Stable Outlook), would be forthcoming, should it be required. HSBCS’s long-term IDR is constrained by El Salvador’s country ceiling at ‘BBB-’..
Which begs the question why is there a ceiling for El Salvador?
[via Business Wire (press release)]
What the Heck is Citi Doing?
In a credit environment where CDO values are dropping like rocks and write-downs are sprouting all over Wall Street, one would think that Citigroup (C) would tread carefully when it comes to rolling out new debt products.
“Citigroup has announced a new $165M CDO backed by 30 micro-finance loans to entrepreneurs in 13 countries including Bosnia, Tajikistan, Mexico and El Salvador.
[via Seeking Alpha]
