Diversified geographic and sector exposure due to presence in the business services, construction, and transportation infrastructure segments. Solid operating performance of its toll-road and airport-infrastructure assets. Lower profitability in the business services division in 2018-2019 than in 2017, mainly reflecting challenging conditions in the U.K. Exposure to the cyclical construction industry increasing potential earnings volatility over economic cycles. High standing in credit markets and solid perceived financial stability. Weighted average adjusted funds from operations (FFO) to debt comfortably above 60% in our base case, which provides headroom for the current ratings. Marginal weakening trend for credit ratios in our base case in 2018-2019, mainly driven by investment needs and challenging market environment in the U.K. business services segment. Exceptional liquidity,
