MEXICO CITYMexican construction company Empresas ICA SA
B said Friday that it wont make a $31 million bond interest payment when its grace period expires at the end of the month.
The company added it will seek to restructure its debt and operations in what could lead to Mexicos biggest corporate bond default in at least six years.
Mexicos largest construction company, which has faced cash-flow problems, said that it wont make the payment on its $700 million in 8.875% notes due 2024 to keep cash for operations and funding of projects. The payment was initially due Nov. 30, but the c…
Read the full article at: http://www.wsj.com/articles/mexican-construction-company-ica-reviewing-strategic-alternatives-1450451325