Urbi downgraded as senior bonds face losses
Mexican homebuilder Urbi Desarrollos Urbanos (Urbi) has suffered a second wave of downgrades after missing a payment on its domestic debt. Urbi failed to make a Ps3.9m ($324,000) interest payment on its 2014 local bonds on April, and could not find the funds before the end of the grace period on May 6.
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