Empresas ICA, S.A.B. de C.V. announced that the company's Board of Directors has decided that it will not pay the approximately $6 million interest payment that is due on January 25, 2016 on ICA's 8.375% senior notes due 2017. The company has made this decision in order preserve liquidity, prioritize ongoing operations, and fund projects currently under development. The company is exploring various options to help manage its indebtedness, but currently has no specific transactions planned other than those previously reported.

The company announced that it has retained Guadalupe Phillips Margain as Financial Restructuring Officer, to assist with the company's restructuring initiatives. Ms. Phillips has over twenty years of experience in Mexican markets and was most recently Vice President of Finance and Risk with Grupo Televisa, S.A.B. Orlando Loera is no longer with the company.