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Alto Palermo S.A. 'B' Ratings Affirmed On Performance In Line With Expectations Nov 11
Standard & Poors, Nov 2011
Abstract
APSA's operating and financial performance remained aligned with our expectations. We are affirming our 'B' ratings on the company. The stable outlook reflects our expectation that APSA will generate cash in excess of its financial needs and execute its expansionary business strategy without large external financing. BUENOS AIRES (Standard & Poor's) Nov. 23, 2011--Standard & Poor's Ratings Services affirmed its 'B' ratings on Argentina-based shopping center operator Alto Palermo S.A. (APSA). The outlook remains stable. Today's rating action is part of our regular review. Standard & Poor's ratings on APSA reflect the concentration of its portfolio in the Republic of Argentina (B/Stable/B), which exposes it to volatile economic and political environment. Additionally, despite real-estate prices track exchange rate fluctuations, the...
Companies mentioned in this report are: Alto Palermo S.A.,IRSA Inversiones y Representaciones S.A.
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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