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Agencies Flag Vitro Default Risk

Oct 31, 2008

Moody's has downgraded Vitro to Caa1 from B2, and keeps it on review for possible further downgrade, highlighting elevated risk of default, while Fitch cut it to B minus (watch negative)...

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The most pressing issue is related to guaranteeing this growth of the system, the savings. We have to guarantee that this growth is followed by better asset managers on the side of the Afores.

Carlos Ramírez, Mexico’s pension regulator, Consar


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