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S&P affirms Grupo Posadas, ups outlook to positive
Standard & Poor's said it affirmed its BB- long-term corporate credit rating on Grupo Posadas SA de CV.
At the same time, it revised the outlook to positive from stable.
The agency said it also affirmed the BB- senior unsecured debt rating.
The outlook revision acknowledges the consistent operating performance, a manageable debt maturity schedule and the expected stability of its cash flow, which will support improved coverage measures, S&P said, adding that offsetting these positive credit factors are the company's somewhat high financial leverage, the cyclicality of the hotel industry and geographic concentration within Mexico.
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