S&P: Amey Lagan on positive watch

Standard & Poor's said it placed on CreditWatch with positive implications the BB long-term issue ratings on Amey Lagan Roads Financial plc's index-linked senior secured bond and a European Investment Bank (EIB) loan.

The CreditWatch placement follows the company's stated intention to carry out a financial restructuring with the aim of improving its forecast debt-service coverage ratios, S&P said.

Details of the intended restructuring are yet to be confirmed, but the plan has been approved by shareholders, S&P said.

The CreditWatch positive placement does consider the impending financial restructuring of the project and the likely improvement in forecasted financial ratios that this will bring, the agency said.

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