Sandra Beltran, vice president and senior analyst at Moody’s Ratings: “Rated Latin American consumer companies are expected to outperform global profit growth even as volumes slow amid weaker U.S. demand and trade frictions. Most focus on domestic markets, limiting tariff exposure, and rely on strong brands, innovation and high-margin channels to protect profitability. Ratings for firms in Mexico, Brazil and Chile have improved, reflecting resilient fundamentals, though trade tensions and slower momentum are beginning to pressure earnings and credit metrics. Developing markets continue to offer growth opportunities. Companies such as Kellanova and Mondelez are expanding regionally, while rated Latin American firms are increasing capacity—Embotelladora Andina, for example, is adding production in Brazil, where demand has reached full capacity. As confidence weakens, consumers are trading down to more affordable products. Most companies have preserved margins through pricing and product mix…”