CCM Hires Credit Suisse for Restructuring

Mexico’s troubled supermarket operator CCM has hired Credit Suisse to advise on its debt restructuring, it says, for which it will present a plan “in the next few weeks.” CCM is in negotiations with creditors following its default earlier this month, as it facing MXP1.2bn in October maturities. Credit Suisse underwrote a May 2005 $200m 10-year bond for CCM, which was done as part of a liability management exercise.