Corporate
Outlook: Stable
Action date: 12/21/2021
Rating action: Affirmed

GRUPO PESTANA SGPS SA

Axesor Rating affirms Grupo Pestana s BBB- rating, changing its outlook from Negative to Stable. The company focuses its activity on the management of 80 hotels, 9 units of vacation club, 6 golf courses, 4 real estate ventures, 1 casino gambling concession and 1 brewery company, all of which are located in Portugal. Grupo Pestana s estimated turnover in 2021 is € 253.7MM (+55.5% YoY) with an EBITDA of € 81.1MM (32% EBITDA Margin). NFD/EBITDA is expected to stand at year end in 4.8 times.

Rating

Solicited
Date last rating: 12/21/2021
Date first rating: 09/06/2019