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Credito Real Says Working With Creditors Following Default

  • Company said Jefferies added to firms working on restructuring
  • Company posted fourth quarter loss, wrote-off Honduras loans

After posting a loss for the fourth quarter, Credito Real said it was seeking to avoid a messy legal battle with creditors and would work to keep the company running following a default earlier this month.

The lender that focuses on payroll loans posted a loss of 359.4 million pesos ($17.7 million) in the fourth quarter as cash levels dwindled to around $30 million.