MEXICO CITY (Standard&Poor's) June 28, 2011--Standard&Poor's Ratings Services said today that the announcement by Mexico-based Grupo Posadas S.A.B. de C.V. that its main shareholders will provide a $50 million capital increase during third-quarter 2011 doesn't immediately affect our 'B-' global scale and 'mxBB-' national scale corporate credit ratings on the company. Although we view this as a positive strategy because the resources from the capitalization would provide additional source of liquidity, we believe that even if the proceeds were used to reduce debt, the adjusted ratio of total debt to EBITDA would still remain above 6.0x. Grupo Posadas is Mexico's largest hotel operator, with 112 hotels housing about 19,800 rooms in Argentina, Brazil, Chile, Mexico, and
