Fitch rates Posadas notes B+

Fitch Ratings said it has assigned a B+/RR4 rating to Grupo Posadas, SAB de CV's proposed $200 million senior unsecured notes issuance due 2015.

Proceeds from the issuance are expected to be used to refinance existing debt, the agency added.

Fitch said it currently rates Posadas as follows: local currency issuer default rating B+; foreign currency issuer default rating B+; senior notes due 2011 B+/RR4; national-scale rating BBB+(mex); and certificados bursatiles issuances BBB+(mex).

The outlook is stable.

Posadas' ratings are based on the company's solid business position, strong brand name and multiple hotel formats, Fitch said.

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