markets-featured
Fitch cuts Mexico's Metrofinanciera to 'C' rating
Reuters - Fitch Ratings has downgraded Metrofinanciera's foreign and local currency long-term Issuer Default Ratings (IDRs) to 'C' from 'CCC', following the company's debt exchange proposal to its senior unsecured bondholders.
Santander's Mexico IPO: Will others follow?
Financial Times - Could Banco Santander’s partial float of its local subsidiary on Mexico’s stock market be the start of a trend? The move comes as regulators are keen to encourage foreign-owned banks to list a portion of their company on Mexico's exchange.
blogs.ft.com/beyond-brics/2012/09/07/santander-mexico-ipo-will-others-follow/#axzz25nN6Blgy
Spain's Santander eyes $4.3 billion in Mexico sale
AP - Banco Santander says it hopes to raise up to €3.4 billion ($4.3 billion) from a public offering of shares in its Mexican subsidiary. The bank claimed the offering is the largest equity transaction in Latin America this year.
www.newsday.com/news/world/spain-s-santander-eyes-4-3-billion-in-mexico-sale-1.3949283
Mexico to sell as much as $1.1 billion in 10-year bonds
Bloomberg - Mexico plans to sell as much as 14.4 billion pesos ($1.1 billion) in 10-year, inflation-linked bonds known as Udibonos, the central bank said on its website today. The bonds will be due in June 2022.
Fitch affirms Kimberly-Clark's IDRs at "A"
Reuters - Fitch Ratings has affirmed the 'A' foreign currency and local currency Issuer Default Ratings (IDR) of Kimberly-Clark de Mexico. The Stable Outlook reflects the company's solid business position.
Cemex stock climbs on asset sale plan
MarketWatch — Cemex shares climbed Wednesday, outperforming the broader Mexican stock market after the cement maker unveiled plans to sell a minority stake in Latin American assets. Cemex shares rose 4.2 percent.
articles.marketwatch.com/2012-08-22/markets/33314996_1_rinker-group-cemex-sab-asset-sale
Retail sales rise 1.8% in June after dip in May
Reuters - Mexican retail sales rebounded in June, underscoring the health of domestic demand and pointing to steady central bank interest rates in the coming months. A drop in May was upwardly revised to a 0.13 percent dip.
in.reuters.com/article/2012/08/22/mexico-economy-idINL2E8JM2D920120822
Santander files for dual-listed IPO
IPO - Grupo Financiero Santander Mexico, Mexico's second largest financial services holding company based on net income, filed on Monday with the SEC. The actual IPO is expected to raise up to $4 billion.
www.renaissancecapital.com/ipohome/news/Santander-Mexico-files-for-IPO-12305.html
Mexican shares are pushing upward
Dow Jones - While other markets have hit a brick wall, Mexican stocks are pushing forward. While the IPC stock-market index is up 9.8 percent in 2012, the rise is 16.5 percent in U.S. dollar terms, making Mexico one of the world's best-performing emerging markets.
online.wsj.com/article/SB10000872396390444233104577593283521754386.html
Santander hopes to raise $4 billion with IPO
Reuters - Spanish bank Santander hopes to raise as much as $4 billion in an initial public offering of a portion of its Mexican unit. The bank will probably sell the shares after the first week of September.
in.reuters.com/article/2012/08/15/us-mexico-santander-idINBRE87E13H20120815
