Mexico City Airport Trust is a financing trust that has the benefit of an assignment of all airport passenger charges generated by Mexico City's existing Aeropuerto Internacional de la Ciudad de México and future charges from the city's new airport, which is under construction to accommodate growth in demand. The trust has priced US$2 billion of senior secured debt (in two US$1 billion tranches, maturing in 2026 and 2046 respectively), the first phase of a total debt raising of about US$6 billion over the next two-to-three years. We are assigning our 'BBB+' issue ratings to the trust's senior secured debt. The ratings reflect our expectation that charges from the existing airport alone could support repayment of the debt, without reliance
