Mexico's ICA to take 30 day grace on some bond payments

lunes 30 de noviembre de 2015 18:34 GYT
 

MEXICO CITY Nov 30 (Reuters) - Mexico's largest construction company ICA on Monday said it would take a 30 day grace period in paying some $31 million in interest to holders of its bonds due in 2024.

The firm's net loss more than tripled in the third quarter, hit by financing costs caused by a weak peso.

In a statement to the bourse, ICA emphasized the grace period was not a breach of its obligations to bondholders, and said it would continue to work on ensuring adequate resources for its operations, and improving its liquidity position. (Reporting by Anna Yukhananov)