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Weekly Reports | Ratings | Research

Weekly Reports:	..
Rand Report: "Inflation – or the internal value of a currency – dictates that a rand today is worth more than a rand tomorrow. This induces consumers to spend sooner because they will expect to pay more for the same item later on." Standard Bank of South Africa Dicember 18, 2001
Lafise Weekly "Es bien sabido que la utilización del cambio tecnológico como arma competitiva es un continuo estímulo a la rivalidad; en este contexto se puede recordar que los nuevos competidores a los que la telemática sirve de caballo de Troya para penetrar en el mercado financiero, suelen ser extraordinariamente agresivos, menos atados por la regulación preexistente y frecuentemente dotados de gran capacidad adaptativa." (Juan Quintás Seoane) Lafise, Diciembre 17, 2001
Technical Analysis: "The EMBI+ stripped spread is widening on the back of S&P’s downgrade of Argentina’s long-term foreign currency rating to and the negative spillover effect this has had on Brazil’s debt prices and currency. Despite the general sense of malaise toward Latam emerging markets, Colombia, Peru and Venezuela are holding up their recent gains quite well. Market sentiment will remain edgy during the next few days until Argentine and Brazilian debt prices consolidate around their respective supports. Expect strong EMBI+ stripped spread resistance at around 787 bps." Standard Bank May 9, 2001
BBO Weekly Report: A weekly report on the Venezuelan equity market. BBO Servicios Financieros S.A.C.A.
Foreign Currency Reports on the major Latin American and European currencies. Also, Yield Curves and Correlations for Latin American fixed income benchmark assets. Standard Bank
Ratings:	..
Moody's Investor Service Ratings, "Moody's Investors Service raised Bulgaria's country ceilings for foreign currency bonds to B1 from B2 and for foreign currency bank deposits to B2 from B3. Accordingly, the rating of the government's foreign currency bonds have been raised to B1. The government's domestic currency bond rating has been confirmed at B1. All ratings carry a stable outlook." Moody's Diciembre 19, 2001
Standard and Poor's Press Releases, "Standard & Poor's, the global rating agency, today raised its long-term ratings on the cities of Moscow and St. Petersburg in the Russian Federation (B+/Stable/B) to single-'B'-plus from single-'B'. The outlooks are revised to stable from positive. (For a list of all rating actions see below)." Standard and Poor's Dicember 19, 2001
Fitch/IBCA Ratings, "Fitch, the international rating agency, today changed the Rating Outlook on the long-term sovereign ratings of the Bolivarian Republic of Venezuela to Negative from Stable. The long-term foreign and local currency ratings remain at 'BB-' and 'B+', respectively. The change in rating outlook reflects concern that capital flight may increase in the absence of an improvement in domestic investor sentiment and doubts over the authorities willingness to respond appropriately to lower oil prices." Fitch/IBCA International Rating Agency Dicember 18, 2001
Thomson Financial BankWatch Ratings, "Thomson Financial BankWatch Upgrades Priorbank" Thomson's Financial Bankwatch November 6, 2000
Research:	..
South African Reports "In November, the rate of growth of imported producer prices nearly halved to 0.8%. One notes that the rand’s depreciation against the USD, GBP and Euro, measured at the end of the first week of November relative to the first week of October 1 , was indeed milder than at the end of the first week of October relative to the first week of September. However, considering that the rand’s depreciation against the same major currencies and measured on the same basis but at the beginning of December was substantially sharper than both October and November, imported PPI is likely to pick up speed in December." Standard Bank of South Africa, Dicember 19, 2001
Standard Miami Research, "After posting impressive growth rates just above 8% during 1998 and 1999, economic growth slowed down to 1.4% in 2000, reflecting a reduction in Intel output (Costa Rica is the base of a substantial share of components assembly and testing for the microprocessor manufacturer Intel)." Standard Miami,Dicember 04, 2001

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