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Fitch Downgrades Axtel

Jan 3, 2013

Fitch has downgraded Axtel to C from B minus, it says, classifying its recently launched tender offer as a distressed debt exchange. The agency cites a material reduction in terms of the 2017 and 2019 notes being targeted. “If successful, the exchange will result in a recovery...

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There is performance risk that the market is going to have to evaluate and assess. I think that is very healthy for the market because that will enable us to finance a much wider range of projects.

Luis Fernando Andrade, Colombian National Infrastructure Agency


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