...Economic Stabilisation Supports Traffic: Most public ratings in Fitch Ratings' portfolio apply to debt serviced by cash flows from mature infrastructure assets with strong operational profiles. These include large hub airports, mature toll-road networks, diversified seaports and essential rail links. Fitch expects assets' performances to benefit from eurozone (EZ) GDP growth of 1.6% in 2015. Long-term traffic evolution is uncertain as the EZ may be exposed to adverse macroeconomic shocks, such as in Greece. Most ratings (93%) are on Stable Outlook. Mild Optimism in Projections: Fitch's rating case, which allows for some downside to its base case, is based on a forecast of all the main credit drivers, but some may be sensitive to macro developments, e.g. volume, price, opex, capex, cost of debt. Under a Fitch base-case scenario, the growth expectations reflect a gradual economic recovery in Southern European countries (Spain, Italy, and Portugal). However, Fitch's forecasts are conservative...
