Our Latin American Fixed Income Analyst, Cristián Ignacio Zañartu Ramírez, was consulted by Diario Financiero after the rise in Falabella's share price.

"The news of the expanded asset sale completely offset the company's poor operating results, which translated into a greater flow of dollar-denominated bond purchases, indicating greater investor confidence in Falabella's stability," Cristián noted.

He also noted that: "in the coming months, the rating agencies will be closely monitoring Falabella's results, and may consider a rating change. Fitch and S&P are targeting a net debt to Ebitda ratio of around 4 times, while it currently stands at 8.2 times".