Research Update: Grupo Posadas S.A.B. de C.V. 'BB-' Rating Placed on CreditWatch Negative After A-H1N1 Virus Outbreak - S&P Global Ratings’ Credit Research

Research Update: Grupo Posadas S.A.B. de C.V. 'BB-' Rating Placed on CreditWatch Negative After A-H1N1 Virus Outbreak

Research Update: Grupo Posadas S.A.B. de C.V. 'BB-' Rating Placed on CreditWatch Negative After A-H1N1 Virus Outbreak - S&P Global Ratings’ Credit Research
Research Update: Grupo Posadas S.A.B. de C.V. 'BB-' Rating Placed on CreditWatch Negative After A-H1N1 Virus Outbreak
Published May 08, 2009
Published May 08, 2009
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We believe that as a result of the A-H1N1 outbreak in Mexico and further economic weakness in the country there could be further deterioration in Grupo Posadas' occupancy rates and financial performance below our current expectations. We remain concerned regarding Posadas' open derivatives position. We are placing our 'BB-'and 'mxBBB+' ratings on Posadas on CreditWatch with negative implications. The CreditWatch will be resolved once we have more information regarding the impact of the outbreak on the company's operations and financial results. On May 8, 2009, Standard&Poor's Ratings Services placed its 'BB-' long term corporate credit rating (CCR) and its senior unsecured debt ratings, as well as its long-term national scale rating of 'mxBBB+' on the hotel operator Grupo

  
Report Type:

Research Update

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. "Research Update: Grupo Posadas S.A.B. de C.V. 'BB-' Rating Placed on CreditWatch Negative After A-H1N1 Virus Outbreak" May 08, 2009. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Grupo-Posadas-S-A-B-de-C-V-BB-Rating-Placed-on-CreditWatch-Negative-After-A-H1N1-Virus-Outbreak-720849>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Grupo Posadas S.A.B. de C.V. 'BB-' Rating Placed on CreditWatch Negative After A-H1N1 Virus Outbreak May 08, 2009. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Grupo-Posadas-S-A-B-de-C-V-BB-Rating-Placed-on-CreditWatch-Negative-After-A-H1N1-Virus-Outbreak-720849>
  
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