Position as the largest hotel operator in Mexico; Diversified hotel portfolio with well-recognized brands; and Competitive advantage through technology. Aggressive financial policy; Weak liquidity position; Highly leveraged financial profile; Operation in the cyclical hotel industry; and Geographic concentration in Mexico. The 'B-' corporate credit rating on Posadas reflects its aggressive financial policy, weak liquidity position, and highly leveraged financial profile. These factors are partially offset by the company's position as the largest hotel operator in Mexico and its diversified hotel portfolio, including recognized brands. The company's debt levels are high, resulting in a highly leveraged financial profile. For the 12 months ended Sept. 30, 2010, adjusted total debt to EBITDA and funds from operations (FFO) to total debt ratios stood
