...+ The Mexico City Airport Trust (Fideicomiso 80460 or the trust) announced today amendments in the tender offer and consent solicitation conditions that it launched on Dec. 3, 2018. + The new terms include an increase over the purchase price to par, and the addition and modification of certain covenants that intend to enhance the level of protections for the bondholders and to limit the downside risks arising only from a repayment focused on the Benito Juarez International Airport. + We're keeping our '###+' issue-level rating on the trust's $6 billion senior secured bonds on CreditWatch with negative implications, where we placed it on Oct. 31, 2018. + The negative CreditWatch listing reflects a 50% possibility of a downgrade if the trust doesn't get the consent, which could eventually trigger an event of default, which in turn could put at risk the timely payment of the notes. Failure to implement today's proposals will generate uncertainties regarding the protection of bondholders against...
