It's becoming a hot market south of the border as Mexico, Brazil and Chile played some local hard ball last year. Analysts at Moody's Investors Service expect even more going forward with Mexico's newly approved mortgage GSE, Brazil's involvement with the Inter-American Investment Corp. - a part of the Inter-American Development Bank - and increased investor interest in Chile.

Across the board, securitization in the region's local markets was up nearly 60% in 2001 to $1.5 billion compared to $955 million the prior year, according to Moody's. The increased issuance came despite so much spilled milk in Argentina, and Moody's noted in its recent year-end review that investors' fears of an Argentine default and the possibility of regional contagion did in fact stunt the domestic market's growth last year.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.