ICA Enters into Grace Period for Interest Payment on Senior Notes due 2024

MEXICO CITY, Nov. 30, 2015 (GLOBE NEWSWIRE) -- Empresas ICA. S.AB. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure and construction company in Mexico, confirmed today that it has entered into the 30-day grace period with respect to the approximately US$31 million interest payment on its 8.875% senior notes due 2024 (the "2024 Notes"). Under the terms of the indenture governing the 2024 Notes, the use of the 30-day grace period does not result in an event of default.

ICA believes it is in the best interests of its stakeholders to continue to focus on ensuring adequate resources for its ongoing operations and projects and for improving its liquidity position.  ICA and its experienced team of advisors will continue to evaluate options during the 30-day grace period. 

This press release contains projections or other forward-looking statements related to ICA that reflect ICA's current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic, business or political or other conditions in Mexico, Latin America or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in tax and other laws affecting ICA's businesses, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms and other factors set forth in ICA's most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.

Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit ir.ica.mx

For more information, please contact:
Elena Garcia             
[email protected] 

Gabriela Orozco
[email protected] 

[email protected]
+(5255) 5272 9991 x 3608   

Gabriel de la Concha
[email protected]
Chief Financial Officer       

In the US:
Daniel Wilson, Zemi Communications     
 +(1212) 689 9560
[email protected]