Joe Silver
Forumer storico
Homex
Homex Bonds Extend Losses After Moody’s Outlook Cut to Negative
Desarrolladora Homex SAB (HOMEX*) bond yields rose, extending their biggest weekly jump on record, after Moody’s Investors Service lowered its credit-rating outlook on Mexico’s biggest homebuilder.
The yield on the company’s 2020 bonds rose 53 basis points, or 0.53 percentage point, to a record 14.73 percent, as the price fell 1.96 cents to 78.70 cents on the dollar, according to data compiled by Bloomberg. The bond’s yield has soared more than 425 basis points over the past week.
Moody’s cut the outlook on Homex’s rating to negative from stable, signaling an increased likelihood of a downgrade, according to a statement yesterday after markets closed. The Culiacan-based company currently is rated Ba3, three levels below investment grade.
Fortunatamente ne ho prese pochissime, però ho dimostrato proprio un tempismo ....catastrofico![]()