Billionaire's Mexican Cable Company Debt Sinks Into Distressed.

BLOOMBERG LP; DISTRESSED securities; BUSINESS enterprises; INTEREST rates; INVESTORS; BUSINESS planning; BOND market; DEBT relief

"The recent bond prices situation answers exclusively to the Fed's decision of raising interest rates", Rolando Villarreal-Soriano, an investor relations spokesperson for Grupo Salinas and Total Play, wrote in an email response to Bloomberg. (Bloomberg) -- Bonds of Total Play Telecomunicaciones have fallen to distressed territory as investors weigh whether the cable provider owned by Mexican billionaire Ricardo Salinas is spending too much to expand as debt payments approach. "Bonds are extremely sensitive to these decisions, so when interest rates go up, the price of fixed-interest rate bonds goes down.". [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)