Bulletin: Mexico City Airport Trust's Cash Tender Offer To Have No Immediate Impact On The Ratings - S&P Global Ratings’ Credit Research

Bulletin: Mexico City Airport Trust's Cash Tender Offer To Have No Immediate Impact On The Ratings

Bulletin: Mexico City Airport Trust's Cash Tender Offer To Have No Immediate Impact On The Ratings - S&P Global Ratings’ Credit Research
Bulletin: Mexico City Airport Trust's Cash Tender Offer To Have No Immediate Impact On The Ratings
Published Dec 21, 2018
3 pages (1236 words) — Published Dec 21, 2018
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Abstract:

BUENOS AIRES (S&P Global Ratings) Dec. 21, 2018--S&P Global Ratings said today that its 'BBB+' ratings on the Mexico City Airport Trust (Fideicomiso 80460) are unaffected following the announcement of its cash tender offer and consent solicitation results. The ratings remain on CreditWatch with negative implications, where we placed them on Oct. 31, 2018. Yesterday the trust communicated that holders of 70.8% of the aggregate principal amount all the four series of outstanding notes had validly tendered pursuant to the offer, and 71.3% delivered their consents accorded to the solicitation released on Dec. 3 and amended on Dec. 11. As a result, the Mexico City Airport Trust has accepted for purchase notes tendered on a pro rata basis according to

  
Brief Excerpt:

...BUENOS AIRES (S&P Global Ratings) Dec. 21, 2018--S&P Global Ratings said today that its '###+' ratings on the Mexico City Airport Trust (Fideicomiso 80460) are unaffected following the announcement of its cash tender offer and consent solicitation results. The ratings remain on CreditWatch with negative implications, where we placed them on Oct. 31, 2018. Yesterday the trust communicated that holders of 70.8% of the aggregate principal amount all the four series of outstanding notes had validly tendered pursuant to the offer, and 71.3% delivered their consents accorded to the solicitation released on Dec. 3 and amended on Dec. 11. As a result, the Mexico City Airport Trust has accepted for purchase notes tendered on a pro rata basis according to the pro ration procedures described in the documentation. In practice, the trust will accept for purchase $299.99 million of the principal amount of its 2026 notes, $300 million of the principal amount of both its 2028 and 2046 notes, and $899.99...

  
Report Type:

Bulletin

Issuer
Sector
Global Issuers
Country
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Mexico City Airport Trust's Cash Tender Offer To Have No Immediate Impact On The Ratings" Dec 21, 2018. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Mexico-City-Airport-Trust-s-Cash-Tender-Offer-To-Have-No-Immediate-Impact-On-The-Ratings-2147779>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Mexico City Airport Trust's Cash Tender Offer To Have No Immediate Impact On The Ratings Dec 21, 2018. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Mexico-City-Airport-Trust-s-Cash-Tender-Offer-To-Have-No-Immediate-Impact-On-The-Ratings-2147779>
  
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