S&P affirms Pasajeros Metro

S&P said it affirmed its A+ corporate credit and issue-level ratings on Empresa de Transporte de Pasajeros Metro SA.

The outlook remains stable.

The agency said the ratings reflect a view of the social, economic and political importance of the company's public service mandate, which in turn prompts S&P to believe that there's an extremely high likelihood that the company will benefit from timely and sufficient extraordinary support from its owner, the Chilean government, in the event of financial distress.

“We don't envision the latter scenario in the short term,” the agency said in a news release.

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