Reports
| Date | Report | Type |
|---|---|---|
| 20/05/2020 | Edenor 1Q 20Positive EBITDA surprise but a cloudy future |
Equity Report |
| 19/05/2020 | Argentina Equity MarketDefensive stocks would outstand as the Government disclosed further regulations to domestic companies |
Equity Report |
| 19/05/2020 | Telecom 1Q20 updateTariff freezing to all its segments |
Equity Report |
| 19/05/2020 | Transener 1Q 2020Covid-19, sharp recession and no tariff hike for 2020. Downgrading to Market Performer |
Equity Report |
| 18/05/2020 | YPF 1Q201Q20 Positive Resesults, but are they sustainable? |
Equity Report |
| 18/05/2020 | TELECOM 1Q20Solid profitability in a negative context. Positive outlook amid the covid-19 pandemic |
Equity Report |
| 14/05/2020 | PAMPA 1Q20Improved EBITDA, yet not enough for what’s ahead |
Equity Report |
| 14/05/2020 | Loma Negra 1Q20Within a dramatic activity slump, firm continues to improve EBITDA margin driven by a sound costs management. |
Equity Report |
| 13/05/2020 | Argentina Fixed Income MarketThe government decided to extend the deadline for the sovereign restructuring to May 22nd, a decision made in a context where most of the public comments from bondholder groups pointed to a rejection of the proposal, considering it unilateral and lacking a backup plan. It remains to be seen whether the extension of the term will also bring an improvement in the exchange conditions or if the government will continue without negotiating with the bondholders. If the government remains inflexible, it risks facing a hard default when the grace period expires on April 22nd. Other options that the government may consider are a standstill to keep negotiating with bondholders without facing an event of default. |
Fixed Income Weekly |
| 12/05/2020 | Argentina Equity Market¿Are current stock valuations an opportunity? Interesting charts |
Equity Weekly Report |
| 11/05/2020 | TGS 1Q 2020TGS: not out of the woods, worse is yet to come |
Equity Report |
| 11/05/2020 | Enel Generación Costanera 1Q20Gloomy short term scenario as recession will be record due to Covid-19 |
Equity Report |
| 06/05/2020 | Argentina Fixed Income MarketThis week is the deadline to enter the sovereign debt restructuring under international legislation. Most of the public comments from bondholder groups pointed to a rejection of the proposal, considering it unilateral and lacking an economic plan that would make the debt level sustainable in the future. Momentarily, the Ministry of Economy was inflexible, although some comments from the Ministry would point to a slightly better predisposition to negotiate or extend the deadline. If the government's inflexibility remains, it risks facing a hard default when the grace period expires due to the coupons of global bonds that should have been paid on April 22. |
Fixed Income Weekly |
| 05/05/2020 | Argentina Equity MarketAs the sovereign debt negotiation approaches to what could be a hard default, defensive stocks should stand out due to significantly low valuations |
Equity Weekly Report |
| 29/04/2020 | Fixed Income MarketOne week after the sovereign debt exchange offer was disclosed, no major progress was made in negotiations. The details, while still disadvantageous for bondholders are nonetheless better than expected. There are still no details regarding the domestic law bonds exchange, while according to Economy Minister Martin Guzman, they would receive the same treatment as foreign law securities. |
Fixed Income Weekly |