ANALYSIS-After Brazil ructions, a rethink for investors in emerging market state firms
* SOE debt makes up around a fifth of EM sovereign debt benchmark * Concerns over ESG, sovereign fiscal strength could raise refinancing costs LONDON, Feb 26 (Reuters) - Brazil’s shake up of state-run oil firm Petrobras has caused shockwaves at home but may also prompt some bond investors to rethink their $1 trillion-plus exposure to other government-controlled companies across emerging markets. From China’s Exim Bank to Mexican oil giant Pemex or South African utility Eskom, companies wholly or partly government owned make up half of the $2.4 trillion market in emerging market corporate ...
Source: reuters.com