Invepar Ratings Affirmed With Outlook Stable; New Issuance Rated 'brA+'

Brazil-based transportation infrastructure operator Invepar continues to deploy and develop a portfolio of toll roads, subways, and airports. We are affirming our 'BB' global scale rating and 'brAA-' national scale rating on Invepar. Similarly, we also affirming the national scale rating of 'brAA-' on Invepar's subsidiary, CART, because we assess it as a "core" subsidiary. At the same time, we are assigning a 'brA+' rating to Invepar's proposed R$2.0 billion nine-year debenture issuance. The stable outlook is based on our expectation that the group will maintain its "adequate" liquidity position despite its aggressive investment plan. SAO PAULO (Standard&Poor's) Sept. 28, 2015--Standard&Poor's Rating Services affirmed its 'BB' global scale and 'brAA-' national scale rating on Investimentos e

... Invepar continues to deploy and develop a portfolio of toll roads, subways, and airports. + We are affirming our '##' global scale rating and 'brAA-' national scale rating on Invepar. + Similarly, we also affirming the national scale rating of 'brAA-' on Invepar's subsidiary, CART, because we assess it as a "core" subsidiary. + At the same time, we are assigning a 'brA+' rating to Invepar's proposed R$2.0 billion nine-year debenture issuance. + The stable outlook is based on our expectation that the group will maintain its "adequate" liquidity position despite its aggressive investment plan. SAO PAULO (Standard & Poor's) Sept. 28, 2015--Standard & Poor's Rating Services affirmed its '##' global scale and 'brAA-' national scale rating on Investimentos e Participacoes em Infraestrutura S.A. - Invepar. The outlook on both ratings is stable. At the same time, we affirmed our 'brAA-' national scale corporate credit and issue-level ratings...

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