Fitch, Moody’s downgrade Alsacia

Fitch, Moody’s downgrade Alsacia

Bonds Corporate & Sovereign Strategy

Fitch has cut the rating of Inversiones Alsacia’s 2018 bond to D from CC after the company missed a bond payment this week, despite the borrower saying it was negotiating a deal with bondholders. “The rating downgrade reflects Alsacia's lack of payment of the debt service obligations due August 18, 2014, which constitutes an event of default upon the notes' indenture, with no cure period or possibility for a waiver,” Fitch said. Moody's also cut Alsacia’s rating a notch to Caa3 and put the compa

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