...We are placing our '###-' rating on Autopistas Metropolitanas de Puerto Rico LLC's existing $435 million 6.75% senior secured notes due June 2035, $181 million 7.5% senior secured notes due December 2038, and $120 million 7% senior secured notes due December 2038 on CreditWatch with negative implications. - Due to the pandemic, Puerto Rico is currently under a territory-wide, government-ordered shutdown that includes restrictions on travel as well as a curfew, which is in place until at least mid-April. Daily traffic levels have fallen roughly 60% below management's 2020 forecast and 2019 actual traffic since the shutdown was ordered. - The project is heavily exposed to passenger traffic, from which it generates 96% of its transaction volume, and, therefore, we expect it to be adversely affected through the duration of the pandemic. - We have, as such, updated our base case forecast to assume reductions in passenger traffic of 60% through April 2020, 25% decline from May through August,...
