MercadoLibre: A Credit Look into the Latin American Rising Star
We are optimistic about MELI’s overall financial and business risks.
Executive Summary
We are initiating coverage on MercadoLibre with a preference for MELI 2.375% 2026 bonds. We are optimistic about MELI’s overall financial and business risks.
For EM investors, we prefer MELI 2026 2.375% notes with a 10-30 bps compression potential. These bonds are trading wide compared to the Brazilian Sovereign, the EM BBB Index, and t…
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