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HR Ratings Ratifies HR AA (E) Rating for Grupo TMM's Trust Certificates
By: Marketwired .
Nov. 20, 2012 05:47 PM
MEXICO CITY -- (Marketwire) -- 11/20/12 -- Grupo TMM, S.A.B. (OTC: GTMAY) (BMV: TMM A) ("TMM" or the "Company"), a Mexican intermodal transportation and logistics company, announced that HR Ratings ratified its HR AA (E) rating for the Company's Mexican Trust Certificates. The Certificates were issued on July 2010 for $10.5 billion pesos (approximately $808 million dollars) at a rate of TIIE* +245 basis points.
An HR AA (E) rating considers the issuance to be of high credit quality and assures the timely payment of its obligations, maintaining a low credit risk in adverse economic scenarios.
*TIIE: Mexico's Interbank Equilibrium Interest Rate
Headquartered in Mexico City, TMM is a Latin American intermodal transportation company. Through its branch offices and network of subsidiary companies, TMM provides a dynamic combination of ocean and land transportation services. Visit TMM's Web site at www.grupotmm.com. The site offers Spanish/English language options.
Included in this press release are certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements speak only as of the date they are made and are based on the beliefs of the Company's management as well as on assumptions made. Actual results could differ materially from those included in such forward-looking statements. Readers are cautioned that all forward-looking statements involve risks and uncertainty. The following factors could cause actual results to differ materially from such forward-looking statements: global, US and Mexican economic and social conditions; the effect of the North American Free Trade Agreement on the level of US-Mexico trade; the condition of the world shipping market; the success of the Company's investment in new businesses; the ability of the Company to reduce corporate overhead costs and the ability of management to manage growth and successfully compete in new businesses. These risk factors and additional information are included in the Company's reports on Form 6-K and 20-F on file with the United States Securities and Exchange Commission.
TMM COMPANY CONTACT:
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