With Argentina's wireless communication industry increasingly competitive, wireless phone service provider Telecom Personal has turned to securitization as a way to raise funding to improve its technological edge against rivals Bell South and AT&T.

The company first considered an IPO but ended up opting for a securitization. "They were working with Bank of America and they advised them that a securitization would be cheaper," explained Juan Pablo de Mollein, an analyst from Standard & Poor's in Argentina. "The company has a very good credit quality and this was the best way to go."

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