May 9, 2013
Fitch has downgraded Corporacion GEO to RD from C, it says, after failure t
Fitch has downgraded Corporacion GEO to RD from C, it says, after failure to make a coupon payment.
The Mexican homebuilder failed to make an April 26 MXP2.4m ($199m) interest payment on its 2014 bonds. Geo is now rated RD/D/Ca by all three agencies. It is working with Fians Capital and a group of advisors to consider its restructuring options.