Senior Credit Analyst - Emerging Markets, EM Spreads

Leandro Gubler

EM Spreads is an independent credit research service specializing in Emerging Markets, primarily focusing on Latin American issuers.

Senior Credit Analyst - Emerging Markets

Minerva 3Q24: Acquisitions Keep Uncertainty High

EM Spreads

Credit

<ul>
<li>We are initiating coverage on Minerva with an Underperform recommendation.</li>
<li>We are cautious about the credit impact of the Marfrig acquisition.</li>
<li>We believe a better entry point into the name may emerge in the future based on our expectation of a weakening credit profile. </li>
</ul>


We are initiating coverage on Minerva with an Underperform recommendation.
We are cautious about the credit impact of the Marfrig acquisition.
We believe a better entry point into the name may emerge in the future based on our expectation of a weakening credit profile. 


Minerva: Balancing an Interesting Credit Story with Acquisition Risks

Minerva /Brazil

Minerva: Balancing an Interesting Credit Story with Acquisition Risks