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:

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El Niño is Spanish for … The Niño

Cloud 9fin

El Niño is Spanish for … The Niño