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)

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Corporacion Geo SAB de CV:Says on April 1 Moody's withdrew its C.mx long-term credit rating on company.All ratings were withdrawn due to insolvency process requested by company.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in a national currency at RD.Fitch has affirmed its long-term credit rating on the national scale at RD(mex).Fitch has withdrawn the aforementioned ratings due to the ongoing financial restructuring the company's debt, as well as the lack of information provided by the issuer.Therefore,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’s debt.  Full Article

Corporacion Geo SAB de CV Signs Standstill Agreement With Its Creditors; Seeks To Restructure Its Debt
Wednesday, 5 Jun 2013 09:28pm EDT 

Corporacion Geo SAB de CV (GEO) announced that, in the context of the Company’s debt restructuring, it has reached a standstill agreement with its main bank creditors, which will expire on September 3, 2013. Under the terms of the agreement the creditors will cooperate in order to carry out the restructuring of all GEO's financial liabilities, the creditors will not initiate legal proceedings against the Company and they will suspend any legal proceedings already initiated. In addition, the agreement provides the basis to negotiate the possibility of receiving financing for GEO to continue operating in the ordinary course of its business. GEO will continue to report progress in due course on its restructuring process.  Full Article

Scotiabank Inverlat SA Institucion de Banca Multiple Grupo Financiero Scotiabank Initiates Legal Proceedings Against Corporacion Geo SAB de CV
Friday, 17 May 2013 03:10pm EDT 

Corporacion Geo SAB de CV announced that Scotiabank Inverlat SA Institucion de Banca Multiple Grupo Financiero Scotiabank has initiated legal proceedings against the Company in the Mexican courts, seeking payment for the amount which represents less than 0.5% of the Company’s debts. Corporacion Geo SAB de CV has taken the necessary actions, together with its group of advisers, to handle the complaint.  Full Article

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