...TORONTO (S&P Global Ratings) Sept. 28, 2017--S&P Global Ratings today said that its '###' ratings on the ITR Concession Co. LLC's $1.05 billion 144A senior secured notes due 2025-2040 and $700 million of senior secured private placement notes due 2045-2055 is not expected to be affected by the issuance of new unrated $850 million senior secured private placement notes due 2024-2032. The unrated notes consist of 3.54% $125 million notes due 2024, 3.76% $325 million notes due 2027, 3.86% $150 million notes due 2029, and 4.01% $250 million notes due 2032. The issues have priced favorably, with a credit spread of 140-170 basis points over the treasury rate. The proceeds will be used to full refinance a $777 million acquisition term loan facility due 2020, and terminate associated swaps. The remaining proceeds, if any, will be used to repay a portion of outstanding debt under the $328.5 million capital expenditure facility (unrated). We had previously assumed that the term loan would be refinanced...
