Urbi Downgraded on Payment Failure

Urbi Downgraded on Payment Failure

Mexico Corporate & Sovereign Strategy

Fitch and Moody’s have downgraded Mexican homebuilder Urbi Desarrollos Urbanos (Urbi) to RD from C and to Ca from Caa2, respectively, the agencies say. The moves follow the missing of a a $3.9m payment on its 2014 bonds due April 30, and a similar mi

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