INMOBILIARIA DEL SUR SA


Type of ratings: Senior Secured Corporate Bond

Rating value: BBB-

Outlook: No Trend

License: EthiFinance Ratings

Solicited

EthiFinance Ratings affirms Grupo Insur s bond issue rating at "BBB-". In December 2021, the group issued a bond secured in the MARF for an amount of € 30MM, bullet amortization and maturity in 5 years. This financing will be used for the acquisition of land and plots in order to take advantage of growth opportunities in the sector. This issue has a 100% coverage rate supported both by the assigned collateral (acquired lots) and by the valuation and assets presented by the group.

Ratings

Rating action: Affirmed

Action date: 2023-05-05

Date last rating: 2023-05-05

Date first rating: 2021-10-21

Documents

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Methodology

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