Mexican hotel operator Grupo Posadas' liability management could significantly improve its capital structure and mitigate its liquidity risks. Grupo Posadas is planning a debt repayment with the proceeds from about $270 million in assets sales. The company is also planning to refinance its outstanding debt through a proposed $225 million senior unsecured notes issuance due 2017. We are assigning a 'B' issue-level rating and a recovery rating of '3' to the proposed notes. We're keeping our 'CCC+' global scale and 'mxB+' national scale ratings on the company on CreditWatch with positive implications, and will resolve it once the tender offer is closed and the company completes its refinancing plan. On Nov. 12, 2012, Standard&Poor's Ratings Services assigned a
