Home Credit Ratings and Research S&P Global Ratings’ Credit Research Rutas de Lima S.A.C

Research Update: Rutas de Lima Upgraded To 'BB' From 'BB-' On Revised Counterparty Dependency Assessment; Outlook Still Negative

Published Sep 27, 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 recent developments since our last review. In July 2016, RdL started the construction of two of the six tranches on Ramiro Priale (RP), the project's greenfield road, after the municipality of Lima granted the rights of way. Moreover, we analyzed the impact of the project's new sponsor Brookfield, which acquired a 57% stake in RdL in June 2016. Additionally, Sigma has contributed an additional PEN180.5 million in capital contributions, adding liquidity to the project's structure. After analyzing RdL's updated construction schedule and credit enhancements, we believe that it has greater liquidity to replace the constructor and a minor

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 'BB' Debt Rating Affirmed On Revised Counterparty Dependency Assessment, Outlook Still Negative – 2016/12/01 – US$ 225.00

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 '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

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

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Rutas de Lima Upgraded To 'BB' From 'BB-' On Revised Counterparty Dependency Assessment; Outlook Still Negative" Sep 27, 2016. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Rutas-de-Lima-Upgraded-To-BB-From-BB-On-Revised-Counterparty-Dependency-Assessment-Outlook-Still-Negative-1725636>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Rutas de Lima Upgraded To 'BB' From 'BB-' On Revised Counterparty Dependency Assessment; Outlook Still Negative Sep 27, 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-Upgraded-To-BB-From-BB-On-Revised-Counterparty-Dependency-Assessment-Outlook-Still-Negative-1725636>

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