Senior Secured Corporate Bond
Outlook: No Trend
Action date: 10/21/2021
Rating action: New

INMOBILIARIA DEL SUR SA

Axesor Rating assigns for the first time an "BBB-" rating to Grupo Insur's bond issue. The group is in the valuation phase of a bond secured in the MARF for an amount of € 30MM, bullet amortization and maturity in 5 years. This financing would be used for the acquisition of land and plots in order to take advantage of growth opportunities in the sector. This issue would have a 100% coverage rate supported both by the assigned collateral (acquired lots) and by the valuation and assets presented by the group.

Rating

Solicited
Date last rating: 10/21/2021
Date first rating: 10/21/2021