Research Update: Mexico City Airport Trust 'BBB+' Debt Rating Affirmed And Off Watch Negative On Lower Risks, Outlook Negative

Given amendments to Mexico City Airport Trust's bonds implemented in late December 2018, S&P Global Ratings believes risks to traffic performance and refinancing have significantly decreased. In addition, we believe uncertainties over the strategy for the airport transportation infrastructure in Mexico City's metropolitan area have diminished in the past months following the release of a plan that contemplates the operation of three airports simultaneously and provides more visibility for the medium- and long-term horizon. Finally, we haven't detected unintended consequences related to the cancellation of the construction of the new airport, including litigations from creditors or others claims, and we currently don't expect such events going forward. Therefore, we're affirming our 'BBB+' issue-level rating on the trust's senior secured bonds

...- Given amendments to Mexico City Airport Trust's bonds implemented in late December 2018, S&P Global Ratings believes risks to traffic performance and refinancing have significantly decreased. In addition, we believe uncertainties over the strategy for the airport transportation infrastructure in Mexico City's metropolitan area have diminished in the past months following the release of a plan that contemplates the operation of three airports simultaneously and provides more visibility for the medium- and long-term horizon. Finally, we haven't detected unintended consequences related to the cancellation of the construction of the new airport, including litigations from creditors or others claims, and we currently don't expect such events going forward. - Therefore, we're affirming our '###+' issue-level rating on the trust's senior secured bonds and are removing the rating from CreditWatch with negative implications. - The negative outlook on rating reflects the outlook on the credit quality...

Research Update