Mexico’s Alsea has agreed with banks to temporarily suspend commitments

MEXICO CITY (Reuters) – Mexican restaurant operator Alsea said in a statement on Thursday that it has agreed with banks to suspend its commitments with them for one year beginning June 29, and that interest and commission costs would increase during the period.

The company , which operates franchises of the coffee chain Starbucks and chain eateries such as Chili’s and P.F. Chang’s, also said it has agreed to maintain a minimal level of capital expenditures that will allow it to proceed with strategic projects and the operation of its restaurants.

(Reporting by Daina Beth Solomon; Editing by Anthony Esposito)