Fitch turns Opain outlook to positive

Fitch Ratings said it revised its outlook for Sociedad Concesionaria Operadora Aeroportuaria Internacional, SA's (Opain) to positive from stable and affirmed the BB+ rating on its $415 million of senior secured notes. Opain is the concessionaire of El Dorado International Airport in Bogota, Colombia.

“The outlook revision to positive reflects the favorable operational and financial performance of the project, which has surpassed Fitch's expectations in the last two full years, and which is anticipated to continue in the future.

“In addition, the positive outlook reflects the effects that the concessionaire's sound strategy of cost control has had and which has allowed it to prepay debt. Should traffic, revenue and costs continue performing as observed in 2023, Fitch could adjust its projections upwards and financial metrics could improve to levels consistent with a higher rating,” the agency said in a press release.

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