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Emerging MarketsEM LatAm

TV Azteca slumps post-default as investors question local payment

Mexico City, Femsa, LatAm, Reforma

Mexican broadcaster TV Azteca’s bonds fell sharply in secondary markets this week after the company missed a coupon payment on its international bonds. But the decision to stay current on, and prepay, a domestic bond left some bondholders recalling previous battles with Ricardo Salinas Pliego, Mexico’s third richest man and the owner of the broadcaster.

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