S&P assigns IRSA, bonds B+

Standard & Poor's said it assigned its B+ corporate credit rating to IRSA Inversiones y Representaciones SA (IRSA).

At the same time, the agency said it assigned a B+ rating to an upcoming issuance of $150 million 10-year bullet bonds.

The outlook is stable.

S&P said that the ratings on IRSA reflect the company's geographical concentration in the highly cyclical Argentine real estate market, adding that these factors are partially offset by the company's strong market position, a moderate consolidated debt level in relation to its strong asset base and the quality and good location of its diverse asset portfolio.

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