S&P keeps Mexico City Airport Trust on watch

S&P said it kept its BBB+ issue-level rating on Mexico City Airport Trust's (Fideicomiso 80460 or the trust) $6 billion senior secured bonds on CreditWatch with negative implications, where S&P initially placed them on Oct. 31.

The CreditWatch update follows the trust's announcement of its tender offer for up to $1.8 billion of its $6 billion senior secured notes. The trust will offer to purchase its series 2026, 2028, 2046, and 2047 for a price per series that will vary from $900 to $1,000 for each $1,000 of principal amount, S&P said.

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