S&P assigns BB to Vinte Viviendas

S&P said it assigned its BB issuer credit rating to Vinte Viviendas Integrales, SAB de CV.

The outlook is stable.

“Our rating on Vinte reflects a view of its flexible business model that allows the company to mitigate impacts stemming from the industry cycles,” the agency said in a news release.

“The rating also reflects the company's solid growth trajectory, focus on profitability with above-average and stable margins compared with those of rated peers, and prudent financial policy towards the use of debt as seen in net debt to EBITDA close to 2.0x for the 12 months ended June 2018.

“A relatively small revenue base and limited geographic diversification are rating constraints.”

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