Buy Braskem as Well as "High Quality" Junk LatAm Bonds: Lucror 

(Bloomberg) -- Latin American corporate bond issuers with generally low business risk, good fundamentals and solid liquidity are poised to weather the global recession and period of restricted credit, Lucror Analytics analysts wrote in a note.

List of buy recommendations includes junk-rated picks that offer “less downside risk in an environment of sustained risk aversion”

Investment grade-rated Braskem SA’s Ebitda “contraction should be smaller than we and the market initially expected, with net leverage also lower than we have projected. This should support bond performance and potentially avoid risk of a downgrade to junk from S&P and Fitch”

Lifts recommendation to buy from hold on bonds maturing 2028; keeps buy call on bonds due in 2030, 2041 and 2050 with preference for the 2050 notes, based on price

Recommends buy on following high yield bonds:

Cosan SA bonds due 2027

Nexa Resources SA debt dude 2027, 2028

Rede D’Or notes due 2028, 2030

Cydsa SAB bonds due 2027

San Miguel Industrias Pet SA’s 2022 bonds

Cencosud SA’s 2025 and 2027 notes

WOM’s 2024 notes

NOTE: Previously, Risk-Off Sentiment Poses Downside Risks for LatAm Corps: Lucror

To contact the reporter on this story: Ezra Fieser in Bogota at efieser@bloomberg.net