Fitch lowers Pasajeros Metro

Fitch Ratings said it downgraded Empresa de Transporte de Pasajeros Metro SA's long-term foreign currency issuer default rating to A- from A and long-term local currency issuer default rating to A from A+.

The outlook is stable.

Pasajeros Metro’s ratings are notched down once from the Chile sovereign under Fitch's public sector entity criteria, reflecting the application of the four key rating factors including legal status, control, strategic importance, and integration, the agency explained. Bonds are rated at the same level as Pasajeros Metro’s foreign currency issuer default rating.

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