S&P puts ICA down to D as default looms for Mexican

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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S&P puts ICA down to D as default looms for Mexican

Mexico dancing
Students perform during a parade marking the 100 anniversary of the Mexican Revolution in Monterrey, Mexico, Saturday Nov. 20, 2010. Mexico marks 100 years since the seven-year conflict began on Nov. 20, 1910 that saw peasant armies led by heroes Emiliano Zapata and Pancho Villa topple the dictatorship of Porfirio Diaz. (AP Photo/Carlos Jasso) | Carlos Jasso/AP/Press Association Images

Mexican infrastructure and construction giant Empresas ICA is heading for default after the company said it had decided not to pay a $31m interest payment due November 30 before the expiration of the grace period on December 29.

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