Moody’s ups Ostregion loan, bonds

Moody’s Investors Service said it upgraded the ratings of the €425 million senior secured bond and the €350 million senior secured European Investment Bank loan raised by Ostregion Investmentgesellschaft Nr.1 SA to B1 from B3.

An improvement in the project’s financial metrics supported by shadow toll revenues that have routinely outperformed the updated base-case scenario and Moody’s estimate the positive traffic trend will continue drove the upgrade, Moody’s said.

“Whilst actual traffic volumes on the concession continue to be below original base-case projections (2005), traffic performance has exhibited a consistently improving trend in recent years, with total (light and heavy) traffic being around 15% above the updated 2011 base-case traffic scenario at the end of October 2019,” said Moody’s in a press release.

The outlook remains stable.

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