September 15, 2022 |
Mexican asset-based lender Mexarrend said Wednesday that it had "final approval" to take out a MXN600 million ($30.1 million) credit line from Banco Azteca to refinance a bond that matures in October.
Mexarrend has put up real estate holdings as collateral and expects to receive the loan in the next few weeks, it said in a statement.
Last week, Fitch Ratings downgraded Mexarrend by one notch to B with a negative outlook based on concerns that the company cannot make bond payments in the next two
Mexican asset-based lender borrows $30 mln from Banco Azteca to pay off debt that matures next month