Grupo Posadas Ratings Raised Two Notches, To 'B' From 'CCC+', Off Watch On Payment Of Local, Global Debt; Outlook Stable - S&P Global Ratings’ Credit Research

Grupo Posadas Ratings Raised Two Notches, To 'B' From 'CCC+', Off Watch On Payment Of Local, Global Debt; Outlook Stable

Grupo Posadas Ratings Raised Two Notches, To 'B' From 'CCC+', Off Watch On Payment Of Local, Global Debt; Outlook Stable - S&P Global Ratings’ Credit Research
Grupo Posadas Ratings Raised Two Notches, To 'B' From 'CCC+', Off Watch On Payment Of Local, Global Debt; Outlook Stable
Published Dec 21, 2012
1660 words — Published Dec 21, 2012
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Mexican hotel operator Grupo Posadas used the proceeds from the sale of its South American division and the issuance of $225 million senior unsecured notes to reduce debt and extended its debt maturities. We are raising our global scale corporate credit rating and our debt rating on the $200 million unsecured notes due 2015 ($83 million outstanding) to 'B' from 'CCC+' and removing them from CreditWatch with positive implications. We also are affirming our 'B' rating on the $225 million senior unsecured notes due 2017. The recovery rating on both debt issues is '3'. We are raising the national scale corporate credit and debt ratings to 'mxBB+' from 'mxB+' and withdrawing them because of the prepayment of the local debt.

  
Brief Excerpt:

RESEARCH Grupo Posadas Ratings Raised Two Notches, To 'B' From '###+', Off Watch On Payment Of Local, Global Debt; Outlook Stable Publication date: 21-Dec-2012 Primary Credit Analyst: Sandra Tinoco, Mexico City (52) 55-5081-4473;...

  
Report Type:

Ratings Action

Ticker
POSADASA@MM
Issuer
Grupo Posadas S.A.B. de C.V.
GICS
Hotels, Resorts & Cruise Lines (25301020)
Sector
Global Issuers, Structured Finance
Country
Mexico
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Grupo Posadas Ratings Raised Two Notches, To 'B' From 'CCC+', Off Watch On Payment Of Local, Global Debt; Outlook Stable" Dec 21, 2012. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Grupo-Posadas-Ratings-Raised-Two-Notches-To-B-From-CCC-Off-Watch-On-Payment-Of-Local-Global-Debt-Outlook-Stable-1055167>
  
APA:
S&P Global Ratings’ Credit Research. (). Grupo Posadas Ratings Raised Two Notches, To 'B' From 'CCC+', Off Watch On Payment Of Local, Global Debt; Outlook Stable Dec 21, 2012. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Grupo-Posadas-Ratings-Raised-Two-Notches-To-B-From-CCC-Off-Watch-On-Payment-Of-Local-Global-Debt-Outlook-Stable-1055167>
  
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