On Nov. 2, 2026, the Mexico City Airport Trust (Mexcat) fully repaid its maturing 4.25% $565.9 million bond. Mexcat repaid the bond using funds held in its principal accumulation account (PAA) for the notes and excess cash available after debt service and the provision of corresponding reserves, generated from airport passenger tariffs (TUAs). As a result, S&P Global Ratings affirmed the'BBB'rating on Mexico City Airport Trust. The negative outlook continues to mirror that on the sovereign credit rating, given the relationships between the project and the Mexico City International Airport’s operator and between the operator and the government. The Mexico City Airport Trust (Mexcat or Fideicomiso 80460) is a financing trust that receives all airport passenger tariffs (TUAs)
