Moody's confirms Ostregion

Moody's Investors Service said it confirmed the Ba2 ratings on the following debt facilities raised by Ostregion Investmentgesellschaft Nr. 1 SA: €425 million floating-rate guaranteed senior secured bonds; and €350 million floating-rate guaranteed senior secured bank loan provided by the European Investment Bank.

"Today's rating action reflects Moody's expectation that the issuer's debt service coverage ratios will remain slightly above 1.05x for the foreseeable future, even though some material uncertainties remain with respect to outturn costs, service performance deductions and ongoing negotiations with different project parties," Johan Verhaeghe, Moody's vice president and senior credit officer in the infrastructure finance group, said in a news release.

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