Latin America is increasing its relative strength in the emerging markets asset class, according to Euromoney’s best borrowers survey. In 2012, four of the top five corporates are Latin American: Petrobras, Vale, Odebrecht and Cemex are rated first, second, fourth and fifth, respectively, with only Russia’s Gazprom at third preventing a Latin clean sweep.
In the sovereign rankings, Poland’s strong credit story pips another’s robust improvement: Mexico jumps three places to second this year behind Poland, which also climbs three places to take the 2012 top-ranked EM sovereign. Rounding out the top three is Brazil, last year’s best-ranked EM sovereign.
