-- The recent A-H1N1 outbreak in Mexico and economic weakness in the country have led to a further decline in Posadas' occupancy rates and financial performance that is below our expectations. -- We remain concerned about Posadas' open derivatives position. -- We are lowering our ratings on Posadas, including lowering the global and national scale corporate credit ratings to 'B+' from 'BB-' and 'mxBBB' from 'mxBBB+', respectively. -- The ratings remain on CreditWatch with negative implications. -- We will resolve the CreditWatch listing over the next few weeks, when Posadas has completed several initiatives to improve its liquidity and its cushion against covenant requirements. MEXICO CITY (Standard&Poor's) June 15, 2009--Standard&Poor's Ratings Services lowered its ratings on
