Mexican hotel operator Posadas business risk profile is "fair" given its strong brand and market position in Mexico with profitability levels above 20%. We are affirming our 'B' ratings on the company and keeping the recovery rating on its debt issues unchanged at '3'. The stable outlook reflects our expectation that the company will maintain stable credit metrics and a solid brand and market position in Mexico. On Dec. 11, 2013, Standard&Poor's Ratings Services affirmed its 'B' global scale corporate credit rating on Grupo Posadas (Posadas). We also affirmed our 'B' ratings on the company's $200 million notes due 2015 ($83 million of which is outstanding) and $275 million due 2017. The recovery rating on the notes is
