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NEW YORK, Jan 16 (IFR) - Ecuador is marketing a dual-tranche offering among international investors, the first crossborder social bond to come from a Latin American sovereign, say sources. Sole lead Goldman Sachs is showing accounts US$326.8m of Class B zero coupon notes due 2035 and a US$230.9m of Class A notes that carry a 2.6% coupon and benefit from a guarantee from regional development bank, the IDB, according to a prospectus seen by IFR. The Class B notes are expected to come at a...

Brazilian retailer Magazine Luiza has named its chief operating officer, Frederico Trajano Inácio Rodrigues, as chief executive, it said this week. The appointment came amid a series of leadership changes, with vice-chairman Luiza Helena Trajano Inác

A possible default by Ica could add an average of 100bp to the delinquent commercial loan ratio at 15 lenders to the Mexican construction company Banobras, Santander Mexico and Inbursa are the lenders most vulnerable to a default by Empresas Ica, Moody's said on Monday. The Mexican construction company said last week it would use the 30-day grace period to meet a $31m coupon payment due on its 8.875% 2024 bond, a move that raises the probability of default, Moody's said. Loans to Ica and...

Moody's has downgraded reinsurance firm Monticello Insurance to Ba1 from Ba