Last Updated January 18, 2008
Brazilian construction company Andrade Gutierrez is upbeat on energy and transportation projects in Argentina, although legal safety is a major concern, claims Luiz Jordo, director of structured finance at Brazilian contractor Andrade Gutierrez. "ECAs are not covering Argentina presently due to unpaid Paris Club debt. But we and the international community expect that this issue will be solved in the beginning of 2008", adds Daniel Melo, structured finance manager at Andrade Gutierrez.
As for raising funds in international capital markets, any proceeds from such bond issuances can be seized by holdout creditors who stem from Argentina's 2001 bond default, Jordo adds.
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