MEXICO CITY (S&P Global Ratings) May 17, 2016--S&P Global Ratings said today that its corporate credit and issue-level ratings on the Mexico-based hotel operator Grupo Posadas, S.A.B. de C.V. (Posadas; B+/Positive/--) are not affected by the company's $50 million add-on to its existing $350 million senior unsecured notes due 2022. The company will use the add-on to pay down the remaining $38 million of its 2017 senior unsecured notes in November 2016 and for corporate purposes. The company's debt won't change significantly after it repays these notes, with debt to EBITDA remaining below 4.5x and EBITDA interest coverage near 3x in the next two years, in line with our previous expectations. Moreover, this transaction will improve Posadas' debt maturity profile,
