• S&P decision may negatively affect Samruk-Energy Eurobonds. However, it is unlikely investors will believe that the company may lose the government support.
• Bank Otkritie rating CreditWatch placement with negative implications may cool down investors’ appetite for the bank’s Eurobonds.
• We assume that the PrivatBank nationalization may trigger its Eurobond restructuring.
• Indonesian sovereign and corporate bonds will positively react to the rating outlook revision by Fitch. However, it is worth to know, that different agencies have opposing views on Indonesian economy perspectives.
• Chinese government intention to cool the property market may negatively affect the real estate companies business and therefore, hurt its Eurobonds.
• Odebrecht has reached agreement with the US court regarding possible penalty payment. This is a positive announcement for the company.
• Petrobras CEO confirmed the company’s divestment program targets for 2017. There is no short-term risk for the company’s liquidity.
A DRIVER FOR 2017?
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