S&P affirms three Mexican toll roads

Standard & Poor's said it affirmed its AA global-scale senior secured debt ratings on issues of Autopista Monterrey-Cadereyta, Carreteras Ecatepec-Piramides y Armeria-Manzanillo and Promotora y Administradora de Carreteras SA de CV and removed them from CreditWatch, where they were placed with negative implications on June 5.

The outlook is negative.

The agency said it also affirmed its long-term mxAAA national-scale ratings on the issues of these three Mexican toll roads.

The outlook on the national-scale ratings is stable.

S&P added that these actions mirror those taken on MBIA Insurance Corp., which provides unconditional and irrevocable guarantee of full payment on principal and interest on the obligations.

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