... availability-based infrastructure and power facilities are performing in line with base case expectations. The divergent macroeconomic performance in Latin America is likely to continue throughout 2014. A sustainable level of demand in transportation assets is likely to continue in Brazil despite an anemic economy. Concurrently, in other regional markets infrastructure assets are expected to perform reasonably well. The majority of current ratings are expected to keep stable outlooks. Stable Cash Flows for Toll Roads: Traffic volume and revenue for Fitch Ratings' rated toll roads generally increased notably across most of the region, despite a slowing economic backdrop. Also, operating expenses are in line with expectations, resulting in higher operating margins. Most budgeted capital investments are manageable and expected to be funded largely with internally generated cash flow. The strategic nature of rated projects, stable cash flow...
