Most Latin American nations are well- prepared to confront a worsening debt crisis in Europe and slower growth in the U.S. as China’s commodities purchases give the region a “minimum” level of economic support, Moody’s said.
Mexico may merit a credit-rating upgrade should incoming President Enrique Pena Nieto’s proposals to increase tax revenue and open the energy industry to more private investment succeed, Moody’s Investors Service said.
Sitting in his freshly painted living room as his son plays nearby, Joao Pedro de Souza recounts a peak moment in his life. Last year his family left a shanty in the vast slums of Sao Paulo and moved into this new two-bedroom apartment, with a full kitchen and bathroom.
Long vulnerable to periodic financial crisis in neighboring Argentina, Uruguay’s growing ties with Brazil and more diversified exports are prompting investors to bet the country is heading toward its first investment-grade rating since 2002.