...MEXICO CITY (S&P Global Ratings) Nov. 29, 2017--S&P Global Ratings today assigned its '###' issue-level ratings to Infraestructura Energetica Nova's (IENOVA: ###/Stable/--) up to US$840 million senior unsecured notes, with fixed interest rate, due in up to 30 years. The company will use the proceeds from this issuance to pay down existing short-term debt and for general corporate purposes. Our ratings on the company reflect IENOVA's '###-' stand-alone credit profile, underpinned by the company's satisfactory competitive position and its predictable cash flow generation given its long-term contracts (take-or-pay). It doesn't have any commodity exposures and works with investment grade counterparties. Additionally, the company benefits from a significant market share in its operational areas; it is one of the three largest companies in the private sector in terms of installed capacity in the Mexican natural gas open-access pipeline-transportation market, and it owns the largest LNG regasification...
