Corporate
Outlook: Stable
Action date: 07/08/2022
Rating action: Affirmed

INMOBILIARIA DEL SUR SA

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 € 149.4MM at the end of June (+8.4% vs 2020).

Rating

Solicited
Date last rating: 07/08/2022
Date first rating: 10/21/2021