Fitch ends watch on Rio Magdalena

Fitch Ratings said it affirmed its BB+/AA+(col) ratings on the loan and notes issued by PA Autopista Rio Magdalena (ARM) and removed the ratings from rating watch negative.

“The removal of the RWN reflects the execution of financial strategies by Construcciones El Condor, SA (CEC) that have allowed them to improve its liquidity position and meet its obligations. CEC signed an engineering, procurement and construction (EPC) contract with ARM for the execution of the toll road's functional units (UF) UF1 and UF2,” the agency said in a press release.

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