IN THE FIRST half of 2010 the Brazilian structured finance market has flourished in a benign domestic economic climate. As José Olympio Pereira, co-head of investment banking at Credit Suisse in Brazil says: “Brazil’s country risk premium is lower than that of Greece, Portugal, Spain and Italy – the tables have turned. Brazil’s macro indicators are better; we have a lower debt to GDP ratio, a primary surplus, lower deficits and more currency reserves.” Issuance of fundos de investimento em direitos créditos (FIDCs), the dominant structured finance instrument, has grown, driven by expansion in the diverse range of underlying assets: consumer loans, auto loans, trade receivables and other less common asset types.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
