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Research Update: Rutas de Lima S.A.C Issue-Level Rating Affirmed On Construction And Operations In Line With Expectations; Outlook Neg

Published Jul 23, 2015

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About This Report

Abstract:

Peru-based urban toll road operator Rutas de Lima S.A.C.'s strong operating and financial performance remained in line with our expectations. We are affirming our 'BBB-' rating on the project's senior secured notes. The negative outlook reflects our expectation that the rating on the notes would move in tandem with that on Odebrecht Engenharia e Construcao S.A. (BBB-/Negative), which we believe is a key counterparty for the transaction within the construction stage. On July 23, 2015, Standard&Poor's Ratings Services affirmed its 'BBB-' rating on Rutas de Lima S.A.C's senior secured notes due 2036 and 2039. The outlook remains negative. In 2013, Rutas de Lima (RdL) won a 30-year concession contract to build, operate, and improve three toll access highways

Report Type:

Research Update

Issuer

Rutas de Lima S.A.C

Sector

Global Issuers

Country

Peru

Region

Latin America

Format:

PDF

Research Update: Rutas de Lima Placed On CreditWatch Negative On Similar Rating Action On Key Counterparty – 2015/09/15 – 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

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

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 Outlook Revised To Negative From Stable On Counterparty Outlook Change – 2015/02/06 – US$ 225.00

Rutas de Lima S.A.C's $520 Million Senior Secured Bonds Rated 'BBB-', Outlook Stable – 2014/07/22 – US$ 150.00

Research Update: Rutas de Lima S.A.C's $520 Million Senior Secured Bonds Rated 'BBB-', Outlook Stable – 2014/07/22 – US$ 225.00

Rutas De Lima's Proposed Senior Secured Bonds Of Up To $520 Million Rated Preliminary 'BBB-' – 2014/06/26 – US$ 150.00

Research Update: Rutas De Lima's Proposed Senior Secured Bonds Of Up To $520 Million Rated Preliminary 'BBB-' – 2014/06/26 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Rutas de Lima S.A.C Issue-Level Rating Affirmed On Construction And Operations In Line With Expectations; Outlook Neg" Jul 23, 2015. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Rutas-de-Lima-S-A-C-Issue-Level-Rating-Affirmed-On-Construction-And-Operations-In-Line-With-Expectations-Outlook-Neg-1423441>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Rutas de Lima S.A.C Issue-Level Rating Affirmed On Construction And Operations In Line With Expectations; Outlook Neg Jul 23, 2015. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Rutas-de-Lima-S-A-C-Issue-Level-Rating-Affirmed-On-Construction-And-Operations-In-Line-With-Expectations-Outlook-Neg-1423441>

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