Distressed CMC Ravenna stokes HY’s Italian fears

BNDES HQ
By Victor Jimenez
04 Dec 2018

The risk appetite of high yield bond investors in Europe continues to pall, as Italian construction firm Cooperativa Muratori e Cementisti di Ravenna filed for creditor protection this week.

CMC Ravenna opened the path to a debt restructuring under Italian insolvency law at a court in its home city, Ravenna, choosing “the most effective process in order to secure company’s assets and protect, in this way, all the stakeholders”, it said in a statement on Tuesday.

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