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Date	Document Type	Title	Issuer/Entity
14 Mar 2013	Sector Comment	Brazil's Royalty Distribution Plan Harms Oil Producing States and Municipalities
27 Aug 2012	Sector Comment	Brazil Increases 17 States' Borrowing Capacity, a Credit Positive	Belo Horizonte,... Mato Grosso, St... Minas Gerais, S... Rio de Janeiro,... Sao Paulo, Stat...
22 Mar 2011	Special Comment	Brazil: Macroeconomic Trends Buoy Sub-Sovereign Credit Quality	Belo Horizonte,... Minas Gerais, S... Rio de Janeiro,... Sao Paulo, Stat...
22 Mar 2011	Special Comment	Brazil: Macroeconomic Trends Buoy Sub-Sovereign Credit Quality (Portuguese translation)	Belo Horizonte,... Minas Gerais, S... Rio de Janeiro,... Sao Paulo, Stat...
03 Mar 2010	Special Comment	Why Some Sub-sovereign Ratings in Argentina are Higher than the Sovereign Rating	Buenos Aires, C... Buenos Aires, P... Chaco, Province... Cordoba, Provin... Formosa, Provin... Mendoza, Provin... Rio Cuarto, Mun...
14 Jan 2010	Special Comment	Sub-Sovereign Outlook 2010: Challenges Persist and Downward Rating Actions Expected	Abruzzo, Region... Alberta, Provin... Amathole, Distr... Andalucia, Junt... Arezzo, Provinc... Athens, City of Azores, Autonom... Baden-Wuerttemb... Banska Bystrica... Barcelona, City... ...
16 Nov 2007	Special Comment	Sao Paulo, State of (Portuguese Translation)	Sao Paulo, State of
16 Nov 2007	Special Comment	Minas Gerais, State of (Portuguese translation)	Minas Gerais, State of
06 Dec 2002	Special Comment	Subsovereign Defaults In Argentina
06 Dec 2002	Special Comment	Subsovereign Defaults In Brazil: The Debt Moratorium Of Minas Gerais