China Fishery Sets March Deadline to Redeem Peruvian Unit’s Debt
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China Fishery Group Ltd. plans to redeem $250 million of its Peruvian unit’s bonds by March next year as banks gave the beleaguered group more time to restructure its debt.
The Singapore-listed anchovy seller faces credit rating downgrades if a concrete plan isn’t put forth over the next three months, according to Standard & Poor’s. Banks have extended a deadline to March 16 from Nov. 30 for China Fishery to sort out its refinancing, the ratings company said.