S&P elevates Grupo Posadas view to positive

S&P said it revised its outlook on Grupo Posadas SAB de CV to positive from stable and affirmed its B+ corporate credit and issue-level ratings on the company.

The recovery rating on the notes remains at 3 (rounded estimate 65%), indicating an expectation of a meaningful recovery for unsecured lenders in a hypothetical event of a payment default.

“Despite difficult conditions in Mexico's lodging industry during the third quarter of 2017, Posadas has posted a solid operating performance and stable cash flow generation throughout the year, while it has been executing its expansion plan without requiring external funding,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.