Gruposura Obtains a Second International Investment Grade, this Time from Standard & Poor`s
This is the second time we have been issued with an investment grade this year, since Fitch Ratings awarded the first in March.
Both firms gave the Company a BBB- rating with a stable outlook
MEDELLIN, Colombia, May 5, 2011 /PRNewswire/ -- Standard & Poor's announced that it has awarded Grupo de Inversiones Suramericana a BBB- rating along with a stable outlook, this for the second time this year since Fitch Ratings gave this same rating at the end of March; this is equivalent to an International Investment Grade.
The Company expressed its utmost satisfaction with this grade, particularly because it reflects its financial robustness and corporate strategy in providing important results to investors, as can be seen with the figures posted over the last decade, with assets increasing 28-fold and shareholders´ equity another 37-fold between 2000 and 2010.
In the corresponding report, Standard & Poor's highlighted the quality of GRUPOSURA portfolio which includes leading Colombian companies, some of these holding their own investment grades such as Suramericana and Bancolombia, as well as industries with very positive growth prospects.
It also mentioned the Company's low debt, adequate levels of liquidity, and the profitability of its dividend income, which is expected to remain stable over the coming years. It also mentioned the sound strategy guiding the Company's cash management, which allows it sufficient liquidity with which to take full advantage of any market opportunities that should arise.
As you may recall, during the first quarter of 2011, GRUPOSURA's net profits came to COP 75.830 million, assets COP 17,1 billion and shareholders´ equity COP 16,3 billion. At the present time, 182 international funds have invested in the Company.
GRUPO DE INVERSIONES SURAMERICANA
Grupo de Inversiones Suramericana is a company listed on the Colombian stock exchange as well as with the ADR- Level 1 program in the United States and the Latibex Market for Latin American Stocks in Euros hosted by the Madrid Stock Exchange. Its portfolio of investments is divided into two main segments: the first is Strategic Investments, comprised of the financial services, insurance and social security sectors as well as complementary services. The second is its Portfolio Investments, mainly in the food and cement sectors
GRUPOSURA is mainly focused on its Strategic Investment segment, playing an active role in the management functions of all its companies with a view to harnessing common synergies, as well as taking full advantage of creating, growing and extending its business
Communications Office, +011-574-4355935, [email protected]; or Investor Relations, Luis Eduardo Martinez, +011-574-4355628, [email protected]
SOURCE Grupo de Inversiones Suramericana S.A.
Share this article