Bond Investors Fear Vitro Precedent

Mar 9, 2012

As DCM markets hope for a pickup in issuance next week, there is a concern that Vitro’s recently concluded restructuring could carry broad implications for Mexican high-yield issuers planning to raise money abroad. Through the unpopular move was approved by courts at the beginning of the month, investors say they are keeping a close eye on other companies that have recently struggled under...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management