INMOBILIARIA DEL SUR SA
Type of ratings: Corporate
Rating value: BB
Outlook: Observation
License: EthiFinance Ratings
Solicited
EthiFinance Ratings affirms Grupo Insur "BB" rating, maintaining its Under Observation outlook. The group focuses its activity on the national market within the Real Estate sector. The group closed fiscal year 2022 (under the consideration of joint ventures by the proportional method) with a turnover and recurring EBITDA that amounted to € 117.9m and € 21.2m (-5.9% and -5.6% YoY) respectively, reaching an LTV of 40.5%. The group's market capitalization figure stood at € 132.9m at the end of 2022 (-7.5% vs 2021).
Ratings
Rating action: Affirmed
Action date: 2023-07-10
Date last rating: 2023-07-10
Date first rating: 2021-10-21
Methodology