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S&P ups Autopista Central notes to A-
S&P said it raised the issue-level rating on Sociedad Concesionaria Autopista Central SA's notes to A- from BBB+.
The outlook is stable.
S&P said the upgrade reflects its expectation for improvement in the project's debt service coverage ratios (DSCRs) thanks to consistent traffic growth levels (above GDP growth in the upcoming three years in which the agency still expects increasing motorization rates) and toll rate increases above inflation, which were not part of the previous projections.
S&P now expects minimum DSCRs of 1.72 times and 1.58 times under its base- and downside-case scenarios, compared with the 1.51 times and 1 time in the last review.
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