We expect that Peruvian electricity transportation company ABY Transmision Sur S.A. (ABY) will maintain solid operating and financial performances in the next few years in light of its stable revenue growth that mainly depends on inflation levels and our projection of good availability levels. We're affirming our 'BBB' rating on the project's senior secured notes. The stable outlook reflects the cash flow stability that the concession contract provides, which should result in an average debt service coverage ratio (DSCR) of 1.36x and a minimum of 1.28x through the bonds' term. On March 21, 2018, S&P Global Ratings affirmed its 'BBB' rating on ABY Transmision Sur S.A.'s (ABY) $432 million senior secured notes due in 2043. The outlook is stable. The
