MEXICO CITY, Feb. 04, 2016 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure and construction company in Mexico, announced today that the Company’s Board of Directors has decided that ICA will not pay the approximately US$22 million interest payment that is due on February 4, 2016 on ICA’s 8.9% senior notes due 2021. ICA has made this decision in order preserve liquidity, prioritize ongoing operations, and fund projects currently under development.
This press release contains projections or other forward-looking statements related to ICA that reflect ICA’s current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic, business or political or other conditions in Mexico, Latin America or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in tax and other laws affecting ICA’s businesses, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms and other factors set forth in ICA’s most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.
Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit ir.ica.mx.
For more information, please contact: Gabriela Orozco email@example.com firstname.lastname@example.org +(5255) 5272 9991 x 3012 Pablo Garcia Chief Financial Officer email@example.com In the US: Daniel Wilson, Zemi Communications +(1212) 689 9560 firstname.lastname@example.org
Source: Empresas ICA, S.A.B. de C.V.