S&P affirms Lima Airport

Standard & Poor's said it affirmed the BBB- senior secured debt rating on Lima Airport Partners SRL's about $165 million in fixed-rate notes due 2022.

The outlook is stable.

The rating reflects the good asset quality of the company's sole operating entity, Jorge Chavez International Airport, S&P said.

The agency also said it considered the quality and experience of the airport operator and the company's majority owner Fraport AG, the agency said.

These strengths are partially offset by operation within an untested regulatory framework and pending negotiations with the concession grantor that could result in the concessionaire being obliged to build a second runway on a particular timeframe rather than tying it to passenger-traffic growth, S&P said.

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