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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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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator


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