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Emerging MarketsEM LatAm

TV Azteca grace period expires as Fitch warns on conflicts of interest

Adobe, mexico, peso, gold, silver, coins, LatAm, FX, currency, Mexican peso, 575

Fitch downgraded Mexican broadcaster TV Azteca from C to restricted default (RD) on Friday after the 30 day grace period expired on a missed coupon payment. The rating agency is forecasting recoveries for bondholders in the 31%-50% range.

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