The EACRA – European Association of Credit Rating Agencies has announced the appointment of Adolfo Estévez as its new President, for a three-year term. This appointment comes at a pivotal time for the European credit rating sector, marked by increased regulatory requirements, growing sophistication in financial markets and the progressive [...]

The escalation in the Middle East following the United States and Israel’s strike on Iran, the continuation of thewar in Ukraine—now in its fourth year—and the expiry of the New START Treaty between Washington andMoscow together define a context of heightened strategic uncertainty. The increasing polarisation betweengeopolitical blocs and the [...]

Military intervention materializes in Venezuela, with risk of spillovers to neighboring countries The direct military intervention by the United States in Venezuela represents an unprecedented rupture in Latin America, triggering a broad-based increase in perceived political risk across economies characterized by strategic resources and fragile institutional frameworks. At the same [...]

This rating reflects the company’s solid fundamentals as an international water infrastructure operator with extensive experience in the concession business.  It also reflects the group’s “controlled debt profile” and a prudent financial policy, which has kept reported net leverage below 3.0x for several years, providing room to continue investing.  The [...]

General : Geopolitical risks Political Instability: Commodities : Economic Outlook