El Niño is Spanish for … The Niño

El Niño is back, and *Cloud 9fin’*s LatAm and CEEMEA editors see credit risks spreading across energy, agriculture and sovereign balance sheets.

Deputy LevFin Editor Sasha Padbidri speaks with LatAm Editor Xochitl Herrera and CEEMEA Editor Dan Alderson on how worsening weather shocks are feeding into leveraged credit and emerging market risk.

In Colombia, drought could cut hydropower output just as gas production falls, forcing more imports while Canacol works through a Canadian restructuring process. Xochitl also flags Mexico’s exposure to Henry Hub through gas imports, Chilean utilities’ hydropower upside, and Brazil’s soybean and corn vulnerability.

Dan breaks down Africa’s uneven El Niño effects, from Southern African drought to East African flooding, against a backdrop of food, fuel and fertilizer disruption.

Here’s a summary of the 9fin articles mentioned in the podcast:

• Africa vs Godzilla El Niño — Key battle lines for credit in 2026/27
• Colombia braces for perfect storm as El Niño looms over gas crisis
• FEMSA, KOF and Alsea may benefit from El Niño effect
• El Niño could lift Chile utilities, but less than last time
• Brazil climate whiplash could put key credits to the test
• Houston, we have a solution — How space data centers could be debt's next frontier
• Hurricane Helene hits southeastern US borrowers
• Hurricane Beryl shakes up Texas borrowers
• $98bn in AI projects disrupted by mounting environmental and labor risks
• Resistance is fertile — Iran war’s impact on agriculture and CPI

Have any feedback for us? Send us a note at [e-mail]. Thanks for listening!

Creators and Guests

Producer

Chase Collum

Head of Podcasts for 9fin Limited

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