S&P: Posadas off watch

Standard & Poor's said that it affirmed the ratings, including the B- global-scale and the national mxBB- national-scale corporate credit ratings, on Grupo Posadas SAB de CV and removed them from CreditWatch, where they were placed with negative implications on Nov. 12.

The outlook is negative.

The ratings on Posadas reflect the company's aggressive financial policy, weak liquidity and high leverage, the agency said. These factors are partially offset by the company's position as the largest hotel operator in Mexico and its diversified hotel portfolio, including recognized brands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.