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S&P upgrades IRSA
S&P said it raised its corporate credit ratings on IRSA Inversiones y Representaciones SA (IRSA) and on its subsidiary, IRSA Propiedades Comerciales SA (IRCP), to B+ from B.
The outlook on the corporate credit ratings is stable.
S&P also raised the issue-level ratings on IRSA and IRCP to B+ from B.
“The upgrade reflects IRSA and IRCP's solid operating performance. The companies have reached almost 99% occupancy in shopping malls, 91% occupancy in offices, and 72% in hotels in their portfolios,” S&P said in a news release.
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