The ratings on Autobahnen- und Schnellstrassen-Finanzierungs-Aktiengesellschaft (ASFINAG) reflect: Strong explicit and implicit government support ensured by the company's strategic importance to the Republic of Austria (AAA/Stable/A-1+), which is ASFINAG's sole shareholder, and a tight legal framework defining the government's role in ASFINAG's operations; and Its monopoly position as constructor and operator of the Austrian motorway and high-speed road network. ASFINAG is a government-supported agency responsible for the financing, construction, maintenance, and operation of the entire Austrian network of motorways and high-speed roads, which totals some 2,000 km. Although the motorway network remains the property of the Republic, ASFINAG has been granted the usufruct. It generates revenues from tolls and usage fees charged to motorists (at rates set by the central
