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Italian Energy Referendum Fails to Draw Necessary Turnout

Brazil’s perceived sovereign risk among investors fell on Sunday, with the cost of insuring Brazilian bonds for five years falling yet again in the credit-default swaps market after the country’s lower house of Congress voted to back the impeachment of President Dilma Rousseff for breaching budget laws.

Source:  Reuters, 2016/04/17

By |April 19th, 2016|Categories: News|Tags: , , |

Any given Sunday?

This week-end news flow was intense in the energy business as many decisions were expected to be made all over the world regarding fossil fuel producers. But the outcome of last Sunday turns out to be rather unsurprising or, as the French saying goes, the mountain labored and brought forth a mouse. Let’s get back […]

By |April 18th, 2016|Categories: Analyst's Insight|Tags: , , , , , |

Bankruptcy filings more than double in Brazil as recession deepens

Bankruptcy protection requests in Brazil more than doubled in the first quarter from the year-earlier period, as businesses suffered from the highest borrowing costs in a decade and a steep recession dragged down revenue, credit research company Serasa Experian said on Wednesday.

Source:  Reuters, 2016/04/05

By |April 12th, 2016|Categories: News|Tags: , , |

Brazil’s leaders face a damming problem over vast hydroelectric project

Almost 50 years in the making and six years in the building, Brazil’s massive hydroelectric dam, Belo Monte, was finally due to start generating energy this month.

Source:  The Telegraph, 2016/03/26

By |March 29th, 2016|Categories: News|Tags: , , |

Millions in Brazil protest against President Rousseff over graft and recession

More than three million Brazilians, according to police, demonstrated on Sunday (March 13) across Latin America’s biggest nation to demand the ouster of embattled President Dilma Rousseff.

Source:  The Straits Times, 2016/03/14

By |March 15th, 2016|Categories: News|Tags: , , , , |

Brazil Credit Ratings Cut to Junk by Moody’s

Brazil’s sovereign rating was cut to junk by Moody’s Investors Service, the last of the major ratings companies to strip the country of its investment grade, as President Dilma Rousseff struggles to shore up fiscal accounts amid deepening political turmoil. The country’s benchmark stock gauge declined after the rating was reduced two steps to Ba2, […]

By |March 1st, 2016|Categories: News|Tags: , , |

A few words on the downgrades

Last Wednesday S&P downgraded several countries. Among these was Brazil, which fell from BB+ to BB. This marks the second time in less than six months that S&P has downgraded Brazil. After hitting junk status on September 9th 2015, Brazil now plunges further down.
 The Brazilian downgrade falls within the scope of rating revisions impacting oil […]

By |February 23rd, 2016|Categories: Analyst's Insight|Tags: , , , |

Markets sense oil country ratings still have further to fall

Financial markets are betting that Wednesday’s mass downgrade of oil producing countries by Standard and Poor’s won’t be the last and that Saudi Arabia may fall to just above junk status after oil-producers failed to agree on cuts to boost prices. S&P delivered a double-notch downgrade to Saudi Arabia, stripped Bahrain of its ‘investment grade’ […]

By |February 23rd, 2016|Categories: News|Tags: , , , , , , , , |

Bridge loans or long-term catastrophes: the impact of low oil price

Low oil price environment is a curse for producers and the pressure Saudi Arabia puts on the global output is keeping the head of its competitors and partners (or so-called partners inside the OPEC) under water. Lately, this pressure started to be slightly too heavy for few of them. In the frontline: Azerbaijan and Nigeria […]

By |February 3rd, 2016|Categories: Analyst's Insight|Tags: , , , , , , |

The fake perception of yield

Standard & Poor’s lifted the Greek sovereign credit rating by one notch, from CCC+ to B- with a stable outlook last Friday. The agency justified its move pointing out that “regardless of what government is in power, Greece will largely comply with the terms of the Eurogroup support”, underlining the fact that “the alternative would […]

By |January 26th, 2016|Categories: Analyst's Insight|Tags: , , , , , |