The global rating agency Fitch Ratings raised Grupo Ruba's rating to “AA- (mex)” from “A + (mex)” and kept the outlook at Stable, mainly due to “consistency in results characterized by sustained growth”.

The rating, which was released on June 11, is unprecedented in the real estate sector, as it is the highest that Fitch Ratings has given to a home developer in Mexico.

The Fitch Ratings report considered, among other key factors to have escalated in Ruba's rating, “solid leverage, income diversification that supports profitability, consistent results, a business model that supports performance, use of technological tools. and the development of human capital talent ”.

Fitch highlighted that "the rating is based on its geographic and product diversification coupled with its solid capital structure and low levels of leverage."

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"We received this qualification as a recognition to the team after having raffled a year like 2020. In itself, the 'A + (mex)' note is very satisfactory as the top qualification in the housing industry in Mexico, the opinion now of ' AA- (mex) 'confirms that, with this leap, in the opinion of experts, the company is on the right track and encourages us to keep up with this high expectation, ”said Jesús Sandoval Armenta, Ruba's CEO.

"The new rating forces us to redouble our efforts to consolidate ourselves as the leading housing company in the country," he said.

The developer from Ciudad Juárez has been in the market for 41 years, has executed 215,000 homes and has a presence in Tijuana, Mexicali, Ciudad Juárez, Obregón, Hermosillo, Chihuahua, Ciudad Juárez, Torreón, Saltillo, Monterrey, Veracruz, Puebla, Querétaro, León, Toluca and Cancún.

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Original article