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Article: DCR DOWNGRADES GRUPO DINA'S SENIOR DEBT TO 'B-'
- Article from:
- PR Newswire
- Article date:
- November 21, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, Nov. 21 /PRNewswire/ -- Duff & Phelps Credit Rating Co. (DCR) has downgraded the $150 million of 10.5 percent guaranteed Eurobond notes of Consorcio G Grupo Dina, S.A. de C.V. to 'B-' (Single- B-Minus) from 'B' (Single-B). Also, Grupo Dina's $164 million of 8 percent subordinated convertible debentures were downgraded to 'CCC' (Triple-C) from 'B-' (Single-B-Minus). Grupo Dina is Mexico's largest manufacturer of medium and heavy duty trucks and intercity coach buses.
The ratings have been lowered due to the cumulative pressure of the Mexican economic crisis and the resulting dramatic drop in market demand, which has strained the liquidity and severely ...
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