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AMOV - America Movil SAB De CV News Story

$13.87 0.0  0.3%

Last Trade - 05/05/21

Large Cap
Market Cap £33.10bn
Enterprise Value £57.37bn
Revenue £36.06bn
Position in Universe 269th / 6849

FACTBOX-Companies in Mexico and Brazil with dollar debt exposure

Wed 15th August, 2018 6:00am
By James Thorne Aug 15 (Reuters) - A currency crisis in Turkey has led to fears of a contagion effect in emerging markets as far as Latin America, with potential repercussions for companies holding large amounts of dollar-denominated debt. The lira has lost more than 40 percent this year and crashed to an all-time low to the dollar on Monday, hit by worries over political calls for lower borrowing costs and by worsening ties with the United States.*:nL5N1V50FZ The plunge in the Turkish lira set off a wave of seemingly indiscriminate selling across emerging market assets, giving rise to fears that a crisis in one country could spill over to others.*:nL5N1V41Y9 "When there is a steep depreciation we see pressure in credit measures," said Marianna Waltz, managing director at Moody's in Brazil. Companies that earn large shares of revenue in hard currencies abroad will be better protected than those with locally-generated revenues, Waltz said. Against the dollar, as of Tuesday the Brazilian real BRL=B had fallen 2.8 percent and the Mexican peso MXN= was 2.9 percent weaker since Thursday's close, the day before the Turkish lira's 13 percent plunge. The following Latin American companies have reported a significant portion of dollar-denominated debt. MEXICO Company RIC Industry Gross debt, Dollar-deno Date billions minated (USD) share (pct) Gruma flour tortilla production Cemex production Grupo processing America de CV *Foreign exchange rate at 19.90 Mexican pesos per dollar BRAZIL Company RIC Industry Gross debt, Dollar-deno Report billions minated ing (USD) share Date JBS SA processing Gerdau manufacturing Minerva processing Klabin pulp BRF SA production (foreign) *Foreign exchange rate at 3.89 Brazilian reais per dollar <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Erdogan says Turkey will boycott US electronics, lira steadies*:nL5N1V50FZ GRAPHIC-Emerging economies face threat of Turkey knock-on effect*:nL1N1V510W Emerging market contagion back with a vengeance as Turkey pops*:nL5N1V41Y9 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by James Thorne in New York; additional reporting by Marcelo Rochabrun in Sao Paulo and Julia Love, Sheky Espejo and Anthony Esposito in Mexico City, Editing by Rosalba O'Brien) ((;646 223 4357))
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