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Autopistas Defaulted Bond Offer Sputters After Argentine Debt Settlement
Bloomberg
July 20, 2010

Autopistas del Sol SA, the Argentine highway operator that defaulted on about $357 million of bonds last year, is struggling to drum up creditor support for its restructuring plan after months of negotiations.

Autopistas, based in Buenos Aires, extended its swap offer for a ninth time yesterday, eight months after saying it was halting payments on the dollar-denominated bonds because government restrictions on toll-rate increases led to a "progressive deterioration" of its finances. Autopistas originally sought to conclude the debt exchange by February.

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