Moody’s raises Costanera bonds to A2

Moody's Investors Service said it upgraded the rating on the bonds of Sociedad Concesionaria Costanera Norte, SA to A2 from A3.

The outlook is stable.

Moody’s said the upgrade reflects the strong operating metrics of the toll road. Sustained traffic growth and a dynamic pricing structure have supported solid revenue growth on this asset. The agency expects that that traffic trends and credit metrics will continue strengthening in coming years.

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