On Sept. 20, 2017, the Mexico City Airport Trust placed $4 billion of senior secured debt in two tranches, maturing in 2028 and 2047, respectively. We are assigning our 'BBB+' issue-level rating to the trust's new senior secured debt. The 'BBB+' rating on the issuer's notes due 2026 and 2046 is unchanged. We expect the project to use the proceeds to finance the construction of the new Mexico City Airport. The stable outlook reflects the outlook on the credit quality of GACM, which itself reflects the stable outlook on the foreign currency sovereign rating on Mexico. On Sept. 25, 2017, S&P Global Ratings assigned its 'BBB+' issue-level rating on the $4 billion of new senior secured debt issued by Mexico
