Mexico's ICA to take 30 day grace on some bond payments
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)
© Thomson Reuters 2016 All rights reserved.