...Ferrovial's Long-Term Issuer Default Rating (IDR) reflects its continued prudent balance-sheet management and investment-grade business profile. It has a strong market position as one of the leading international contractors and an attractive concession portfolio. Fitch Ratings expects Ferrovial's current significant cash consumption to be temporary and for there to be a return to positive free cash flow (FCF) generation in 2024. In June 2023, Fitch withdrew the ratings of Ferrovial, S.A. due to the reorganisation of the rated entity as the group has completed the reverse merger and Ferrovial, S.A. no longer exists as a standalone entity. Accordingly, Fitch will no longer provide ratings or analytical coverage for Ferrovial, S.A....
