Inmuebles Carso Receives AAA(mex) Rating from Fitch Ratings
Inmuebles Carso, a real estate ownership company primarily dealing with retail stores and shopping centers, has received the ratification of its credit rating on the national scale from Fitch Ratings due to a solid financial profile.
The New York-based rating agency confirmed Inmuebles Carso’s ‘AAA(mex)’ rating, the highest level in local investment-grade asset classification. The outlook was also affirmed as ‘stable’.
Fitch Ratings stated that the company could potentially invest around 3,500 million pesos annually, backed by an expected 3,300 million pesos in operating cash flow over the next four years.
AeroMéxico Reports Traffic Decline
Grupo AeroMéxico, the country’s flagship airline, reported an 0.8% decrease in passenger traffic during April compared to the same month last year, primarily due to domestic users’ performance.
This decline marked the third consecutive drop, a situation not seen since early 2021, and represented the first negative April in five years, or since the pandemic emptied planes in 2020.
Once again, the decline was driven by domestic traffic, which dropped 6%, marking its tenth decrease in the last eleven months. This also represented the worst fourth month in five years.
International traveler flow increased by 11.7% last month, marking the first rise in three months and the fastest pace in five years.
GBM Estrategia to Distribute $146.9 Million
GBM Estrategia I, a specialized investment fund for capital, preferred instruments, assets, and debt, will distribute 146.9 million pesos ($7.5 million) among the holders of its development capital certificates (CKDes).
The fund will pay 7,015.95 pesos (approximately $359.18) for each of the 20,938 circulating CKDes under the GBMESCK 16 key. The distribution, consisting of nominal interests from a certificate redemption, will take place on May 20.
Amazon Web Services Invests in AI in Saudi Arabia
Amazon Web Services, owned by Amazon.com, announced on Tuesday a $5 billion investment collaboration with the Saudi Arabian AI company, Humain, to boost artificial intelligence in the Kingdom.
AWS stated it will work with Humain to establish an ‘AI Zone’ in the kingdom, featuring dedicated AI infrastructure and servers.
AWS previously mentioned it was building an AWS infrastructure region in Saudi Arabia, available by 2026 with a $5.3 billion investment.
This announcement comes amidst U.S. President Donald Trump’s current Middle East visit.
NVIDIA and AMD have also announced AI collaborations with Humain.
Key Questions and Answers
- What is Inmuebles Carso and why is its rating important? Inmuebles Carso is a real estate ownership company dealing primarily with retail stores and shopping centers. Its ‘AAA(mex)’ rating from Fitch Ratings, the highest local investment-grade asset classification, indicates a solid financial profile and capacity for significant annual investments.
- Why is AeroMéxico’s traffic decline significant? AeroMéxico’s 0.8% decrease in passenger traffic during April compared to the same month last year, driven mainly by domestic users’ performance, marks the third consecutive drop and first negative April in five years. This decline is primarily due to a 6% decrease in domestic traffic, the tenth decrease in eleven months and worst fourth month in five years.
- What does GBM Estrategia’s distribution mean? GBM Estrategia I, a specialized investment fund, will distribute 146.9 million pesos ($7.5 million) among holders of its development capital certificates (CKDes). This distribution represents nominal interests from a certificate redemption.
- Why is Amazon’s investment in AI in Saudi Arabia noteworthy? AWS’s $5 billion investment collaboration with the Saudi Arabian AI company, Humain, aims to boost artificial intelligence in the Kingdom. This investment, along with NVIDIA and AMD’s AI collaborations with Humain, signifies growing interest in AI technology in the region.
