INMOBILIARIA DEL SUR SA
Type of ratings: Corporate
Rating value: BB
Outlook: Observation
License: EthiFinance Ratings
Solicited
Type of ratings: Corporate
Rating value: BB
Outlook: Observation
License: EthiFinance Ratings
Solicited
EthiFinance Ratings affirms Grupo Insur "BB" rating, maintaining its Stable outlook. The group focuses its activity on the national market within the Real Estate sector. The group closed fiscal year 2021 (under the consideration of joint ventures by the proportional method) with a turnover and recurring EBITDA that amounted to € 125.3MM and € 22.5MM (-5.7% and -8.5% YoY) respectively, reaching an LTV of 41.2%. The group's market capitalization figure stood at € 132.9MM at the end of 2022 (-7.5% vs 2021).
Ratings
Rating action: Affirmed
Action date: 2023-05-05
Date last rating: 2023-05-05
Date first rating: 2021-10-21
Methodologies