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HSBC Upgrades Grupo Aeroportuario del to Buy, Announces $277 Price Target
HSBC analyst Cenk Orcan upgrades Grupo Aeroportuario del (NYSE:PAC) from Hold to Buy and announces $277 price target.
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Grupo Aeroportuario del Pacifico Announces the Execution of Bank Credit Facilities Totaling Ps. 8,000 Million
Grupo Aeroportuario del Pacífico (GAP) has secured Ps. 8,000 million in credit facilities from major banks including Santander, BBVA, HSBC, J.P. Morgan, and Scotiabank. The funds will be used to refinance maturing debt certificates (Ps. 4,258 million) and finance capital expenditures (Ps. 3,742 million) for its 12 Mexican airports and Jamaican operations. The facilities carry floating interest rates based on TIIE plus 45 basis points with terms of 6-12 months.