Dia, Abengoa push rescue plans in attempt to calm market fears

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By Victor Jimenez
02 Jan 2019

Two troubled Spanish high yield credits, supermarket firm Distribuidora Internacional de Alimentación (Dia) and energy group Abengoa, have started the year with new schemes to reassure investors. More Spanish companies may want to follow suit, sources said, as the country faces a surge in political risk in 2019.

“It makes sense for Spanish companies to accelerate their plans and get investors involved as early as possible, because Spain is in for a likely bumpy political ride this year,” said an economist in Madrid, who is also a non-executive board member at a listed company.

“On one hand, ...

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