Key Developments: Corporacion Geo SAB de CV (GEOB.MX)

GEOB.MX on Mexico Stock Exchange

1.66MXN
29 Jul 2013
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Latest Key Developments (Source: Significant Developments)

Corporacion Geo signs credit agreement for 315 mln pesos
Tuesday, 20 Jan 2015 11:47am EST 

Corporacion Geo SAB de CV:Signs credit agreement for 315 million pesos with investors under financial restructuring process.Main investor is Capital Real Estate.Investors to provide GEO with resources for building and housing marketing aimed at different segments of housing, as well as for working capital of company.Credit aimed at housing construction will be implemented in 10 real estate developments and will be divided into two stages.  Full Article

Corporacion Geo to restart 19 housing developments
Thursday, 8 Jan 2015 10:57am EST 

Corporacion Geo SAB de CV:Says to restart 19 housing developments due to revival of bridge loan lines by financial institutions and INFONAVIT program called Redensification and Location Housing (50/70).Bridge loans signed by Banorte, Santander, Banamex and HSBC.Says board of INFONAVIT approved 50/70 program continuity in 2015, which in 2014 was main factor for operational continuity of Geo.Says as part of insolvency proceedings Geo and its 16 units request approval of its creditors in order to obtain second extension of 90 calendar days to seek to successfully complete negotiations.  Full Article

Moody's withdraws its credit rating on Corporacion Geo
Wednesday, 6 Aug 2014 02:46pm EDT 

Corporacion Geo SAB de CV:Says on April 1 Moody's withdrew its C.mx long-term credit rating on company.All ratings were withdrawn due to insolvency process requested by company.  Full Article

Corporacion Geo enters bankruptcy protection-Reuters
Sunday, 20 Apr 2014 08:00pm EDT 

Corporacion Geo SAB de CV:Enters bankruptcy protection after judge accepted its filing for restructuring-Reuters.Company to seek to replace most of its about $1 billion in debt with stock.Geo presented its bankruptcy proposal jointly with Banamex, Banorte, Santander, Inbursa and BBVA Bancomer.  Full Article

Moody's downgrades credit rating on Corporacion Geo
Friday, 28 Mar 2014 06:50pm EDT 

Corporacion Geo SAB de CV:Moody's de Mexico has downgraded long-term credit rating on company to C.mx from Ca.mx.  Full Article

Fitch affirms and removes its ratings on Corporacion Geo SAB de CV
Wednesday, 18 Dec 2013 12:56pm EST 

Corporacion Geo SAB de CV:Fitch Ratings has affirmed its credit ratings on the company and simultaneously removed them.Fitch has affirmed its Issuer Default Rating (IDR) in a foreign currency at RD.Fitch has affirmed its IDR in a national currency at RD.Fitch has affirmed its long-term credit rating on the national scale at RD(mex).Fitch has withdrawn the aforementioned ratings due to the ongoing financial restructuring the company's debt, as well as the lack of information provided by the issuer.Therefore, Fitch will not provide rating services to the company.  Full Article

Corporacion Geo SAB de CV Extends Standstill Agreement With Its Creditors And Bondholders As Part Of Restructuring Process
Wednesday, 11 Sep 2013 06:48pm EDT 

Corporacion Geo SAB de CV announced that, as part of its restructuring process, it has extended a standstill agreement with its main bank creditors and bondholders till October 7, 2013.  Full Article

Corporacion Geo SAB de CV Extends Standstill Agreement With Its Bondholders As Part Of Restructuring Process
Monday, 9 Sep 2013 01:59pm EDT 

Corporacion Geo SAB de CV announced that, as part of its restructuring process, it has extended a standstill agreement with the majority of holders of fixed-rate series 2011 unsecured notes for USD 160 million, issued by Fideicomiso de Maquinaria Especializada MXO No. F/00762 till October 3, 2013.  Full Article

Corporacion Geo SAB de CV Reaches Standstill Agreement With Its Bondholders As Part Of Restructuring Process
Wednesday, 17 Jul 2013 12:32pm EDT 

Corporacion Geo SAB de CV announced that as part of its restructuring process, it has reached a standstill agreement with the majority of holders of fixed-rate series 2011unsecured notes for USD 160 million, issued by Fideicomiso de Maquinaria Especializada MXO No. F/00762. The standstill agreement is expected to be effective till September 3, 2013.  Full Article

Corporacion Geo SAB de CV Hires Rothschild To Assist In Process Of Debt Restructuring
Thursday, 6 Jun 2013 11:19am EDT 

Corporacion Geo SAB de CV (GEO) announced that in order to strengthen its financial restructuring process, it has taken the decision to integrate into his team of advisers, the company Rothschild, which will help GEO with the financial analysis of liquidity and alternatives to restructure the Company‚Äôs debt.  Full Article

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