On Feb. 3, 2006, Standard&Poor's Ratings Services affirmed its 'BB-' long-term corporate credit rating and its 'BB-' senior unsecured debt rating on Grupo Posadas S.A. de C.V. At the same time, Standard&Poor's affirmed its 'mxA-' national scale rating on the company. All ratings were removed from CreditWatch where they were placed with negative implications on Dec. 1, 2005, following the announcement that Posadas' bid for the acquisition of Grupo Mexicana de Aviación S.A. de C.V. (Mexicana) was successful. The outlook is stable. The rating affirmation is based on Posadas' ability to offset the impact on its financial profile, since the company's total investment for the acquisition will eventually be around 30%, out of a total of
