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Article: Fitch Rates Corporacion Durango S.A.B. de C.V.'s Notes 'CCC/RR4'.
- Article from:
- Business Wire
- Article date:
- August 27, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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 -- Fitch Ratings has upgraded the foreign and local currency Issuer Default Ratings (IDR) of Corporacion Durango S.A.B. de C.V. (Durango) to 'CCC' from 'D'. In conjunction with this rating action, Fitch has rated the company's notes due in 2016 'CCC/RR4'. Simultaneously, Fitch has affirmed and withdrawn the 'CC/RR4' rating of the company's 2017 notes.
Debt Restructuring Concluded:
Fitch's rating actions follow today's announcement by Durango that its debt restructuring proposal has formally been concluded. As a result of this process, holders of USD 357 million of the company's USD 508.5 million outstanding 2017 notes have exchanged their notes ...
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... ... 1,300-unit luxury residential-over-retail project at Durango Drive and Interstate 215. Sullivan Square Harcourt LLC, an ... failed to perform under a contractual agreement to finance up to USD 800 million for the project. The lawsuit alleges that Harcourt ...
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