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Sritex Downgraded Again To C By Fitch

Sritex Downgraded Again To C By Fitch

Indonesian textile company Sritex and its dollar bonds were downgraded to C from CCC- by Fitch. The downgrade comes on the back of Sritex not meeting an interest payment of $850,000 on 23rd April on its syndicated loan. Fitch said it may downgrade the ratings “further...
Sritex Applies for Debt Moratorium

Sritex Applies for Debt Moratorium

Indonesian textile company Sritex applied for a moratorium in Singapore’s high court on April 21 so that it could continue negotiations with banks. The application for moratorium comes after an onshore creditor filed a petition to begin restructuring of the company....
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