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S&P: Guanay Finance notes BBB-
Standard & Poor's said it assigned a BBB- rating to Guanay Finance Ltd.'s $450 million fixed-rate notes series 2013-1.
The note issuance is a securitization backed by airline ticket receivables and cargo services related to services provided by Latam Airlines Group SA under IATA code 045.
The ratings reflect the company's ability to generate the specific flow of receivables that are being securitized and the transaction's supportive structural features, the agency said.
The ratings also consider the risk of sovereign interference, S&P said.
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