July 3, 2020
Mexico's Grupo Famsa said Thursday that it would not make payments on two series of local notes after its savings bank, Banco Ahorro Famsa, lost its license.
Famsa said it would miss principal and interest payments for GFAMSA 04819 and an interest payment for GFAMSA 06019, according to a securities filing.
The securities commission CNBV revoked Famsa's banking license on Tuesday, two days after the retail group said it filed for Chapter 11 bankruptcy protection in the United States to restructur
Mexican retail group misses interest and principal payments on two series of local notes after losing its banking license