Chilean assets as poised to benefit as the probability of a more investor-friendly government increases, Gimme Credit analysts wrote in a report Thursday.
- Expect continued positive performance for Chilean assets, with equities and bonds poised to benefit
- Maintain “outperform” rating on Cencosud’s 5.95% 2031 notes on positive economic outlook in Chile
- Reaffirm “outperform” rating on Falabella’s 3.375% 2032 bonds
- Rate Arauco’s CELARA 6.18% 2032 bonds as “sell” as pulp prices throughout China and Europe have been under pressure and the tariffs on exports to the US may weigh on the company’s operating margins
- Reiterate “underperform” rating on CMPC’s 6.125% 2033 notes