Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Rutas de Lima S.A.C

Research Update: Rutas de Lima 'BB' Debt Rating Affirmed On Revised Counterparty Dependency Assessment, Outlook Still Negative

Published Dec 01, 2016

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About This Report

Abstract:

We conducted an event-driven review on Peru-based urban toll road Rutas de Lima (RdL or the project) to analyze the impact of Odebrecht Engenharia e Construcao S.A.'s (OEC's) downgrade to B-/Negative from B+/Negative/-- on Nov. 1 2016. We view Odebrecht Peru Ingenieria y Construccion S.A.C., the project's EPC constructor, as having the same credit quality as Odebrecht Engenharia e Construcao After analyzing RdL's updated construction schedule and credit enhancements, we believe that since our last review, the project has a higher liquidity to replace the constructor company, if needed, amid the current state of construction and its complexity. Moreover, in our view, OEC's recent downgrade hasn't affected the project's construction degree of advance since our last review. As a result,

Report Type:

Research Update

Issuer

Rutas de Lima S.A.C

Sector

Global Issuers, Structured Finance

Country

Peru

Region

Latin America

Format:

PDF

Research Update: Rutas de Lima Outlook Revised To Developing On Increased Construction Funding Uncertainties, 'BB' Rating Affirmed – 2017/04/27 – US$ 225.00

Research Update: Rutas de Lima S.A.C. Outlook Revised To Stable From Developing On Adequate Performance; 'BB' Rating Affirmed – 2018/04/24 – US$ 225.00

Research Update: Rutas de Lima S.A.C. 'BB' Debt Rating Affirmed Despite Delays In Tariff Increase; Outlook Still Stable – 2019/04/24 – US$ 225.00

Research Update: Rutas de Lima S.A.C. Debt Rating Cut To 'B' From 'BB' On Weaker-Than-Expected Operating Performance, Outlook Negative – 2019/12/23 – US$ 225.00

Research Update: Rutas de Lima Downgraded To 'CCC' From 'B' On Expected Worsening Of Financial Performance, Placed On Watch Negative – 2020/03/31 – US$ 225.00

Research Update: Rutas de Lima Upgraded To 'BB' From 'BB-' On Revised Counterparty Dependency Assessment; Outlook Still Negative – 2016/09/27 – US$ 225.00

Research Update: Rutas de Lima 'BB-' Ratings Affirmed; Off Watch Negative, Outlook Negative – 2016/06/28 – US$ 225.00

Research Update: Rutas de Lima Downgraded To 'BB-' From 'BBB-' On Revised Counterparty Dependency Assessment, Still On Watch Negative – 2016/06/02 – US$ 225.00

Research Update: Rutas de Lima S.A.C 'BBB-' Rating Placed On Watch Negative On The Counterparty's Downgrade – 2016/03/01 – US$ 225.00

Rutas de Lima 'BBB-' Rating Affirmed And Off Watch On The Same Action On Odebrecht And Replacement Of Liquidity Provider – 2015/12/23 – US$ 150.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Rutas de Lima 'BB' Debt Rating Affirmed On Revised Counterparty Dependency Assessment, Outlook Still Negative" Dec 01, 2016. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Rutas-de-Lima-BB-Debt-Rating-Affirmed-On-Revised-Counterparty-Dependency-Assessment-Outlook-Still-Negative-1765902>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Rutas de Lima 'BB' Debt Rating Affirmed On Revised Counterparty Dependency Assessment, Outlook Still Negative Dec 01, 2016. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Rutas-de-Lima-BB-Debt-Rating-Affirmed-On-Revised-Counterparty-Dependency-Assessment-Outlook-Still-Negative-1765902>

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