Fitch to rate Abengoa Transmision notes BBB-

Fitch Ratings said it expects to assign Abengoa Transmision Sur's $412 million senior notes maturing in 2043 a BBB-(EXP) rating.

The outlook is stable.

Fitch said one of the key rating factors is that equipment and technology employed in ATS is widely used in transmission lines globally.

The operating asset benefits from relatively low operating risk. Abengoa, the operator, has considerable experience in transmission lines globally. The project's exposure to rising long-term operating costs is partially mitigated with a fixed price operating contract, the agency said.

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