Presidential elections in Brazil are coming up in October, but the latest figures suggest that issuance of receivable investment funds (FIDCs) isn't destined to slow down from last year. Indeed, it could pick up.

"It's more active than you'd expect, it being an election year," said Jayme Bartling, director of structured finance at Fitch Ratings in Brazil. Some R$2.1 billion ($992 million) of the senior tranches of FIDCs were registered with Brazil's securities regulator in the first quarter.

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