...- Mexico-based lodging company, Grupo Posadas S.A.B. de C.V. (Posadas), recently announced the completion of its prepackaged Chapter 11 restructuring proceedings and the exchange of its senior unsecured notes due 2022 for new senior secured notes due 2027. - We expect the company's operating and financial performance to continue recovering gradually in the next 12 months, while the new capital structure provides greater financial flexibility to face the pandemic-induced downturn in the global hospitality industry. - On Dec. 17, 2021, S&P Global Ratings raised its long-term issuer credit rating on Posadas to 'B-'. At the same time, we withdrew our 'D' rating on the 2022 notes. - The outlook is stable, reflecting our view that Posadas' operations will continue recovering gradually amid still volatile business conditions due to the pandemic. We expect the company to post high single-digit revenue growth and its profitability to recover in the next 12 months, while maintaining tight cost controls...
