Atlantica Transmision Sur S.A. (ATS or the project) operates three 500 kilovolt (Kv) transmission lines (approximately 885 kilometers [km] long) and three 220 kV transmission lines (32 km) along Peru's southern Peruvian (crossing the Lima, Ica, Arequipa, and Moquegua departments). The project began operating on Jan. 17, 2014, under a 30-year concession. ATS's operations and maintenance (O&M) provider is Omega Perú Operación y Mantenimiento S.A. (not rated). The project is an indirect subsidiary of Atlantica Sustainable Infrastructure PLC (Atlantica or the sponsor; BB-/Stable/--), a global project developer. Overview Key strengths Key risks Stable and predictable cash flow, given availability-based revenue with annual inflation adjustment. The rating capped by that on Peru because we don't think ATS could withstand a sovereign
