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Homex Cut, Urbi Late on Payment

May 1, 2013

Fitch has dropped Homex’s ratings to CCC from B, citing poor first quarter 2013 numbers, highlighted by a 38% decline in units sold versus 1Q2012. The second quarter is likely to mean more leverage for the company, says...

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

Jan Dehn, Ashmore Investment Management