Autopistas Metropolitanas de Puerto Rico LLC's $120 Million Notes Assigned 'BBB-' Final Rating

NEW YORK (S&P Global Ratings) July 19, 2019--S&P Global Ratings yesterday assigned its 'BBB-' final rating to Autopistas Metropolitanas de Puerto Rico LLC's $120 million notes due 2038. (See our preliminary rating research update,Research Update: Autopistas Metropolitanas de Puerto Rico LLC's New Notes Assigned 'BBB-' Prelim Rating, Existing Bond Ratings Affirmed, published May 20, 2019). The ratings on Autopistas Metropolitanas de Puerto Rico LLC's existing $435 million 6.75% senior secured notes due June 2035 and $181 million 7.5% senior secured notes due December 2038 are 'BBB-'. The outlook on the debt continues to be negative. The $120 million note issuance is credit positive because it eliminates the toll road's refinancing risk, which is favorable considering the island's economic uncertainty and

...July 19, 2019 NEW YORK (S&P Global Ratings) July 19, 2019--S&P Global Ratings yesterday assigned its '###-' final rating to Autopistas Metropolitanas de Puerto Rico LLC's $120 million notes due 2038. (See our preliminary rating research update,Research Update: Autopistas Metropolitanas de Puerto Rico LLC's New Notes Assigned '###-' Prelim Rating, Existing Bond Ratings Affirmed, published May 20, 2019). The ratings on Autopistas Metropolitanas de Puerto Rico LLC's existing $435 million 6.75% senior secured notes due June 2035 and $181 million 7.5% senior secured notes due December 2038 are '###-'. The outlook on the debt continues to be negative. The $120 million note issuance is credit positive because it eliminates the toll road's refinancing risk, which is favorable considering the island's economic uncertainty and the impact it could have on road usage over the medium to long-run. Under the completed issuance, all project debt is amortizing and--with all of its debt maturing no later...

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