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S&P rates Tocumen bonds BBB
Standard & Poor’s said it assigned a BBB preliminary long-term issue-level rating on the proposed $625 million fixed-rate secured bonds due 2036 to be issued by Aeropuerto International de Tocumen SA (Tocumen).
The outlook is stable.
The agency also said it placed the existing $650 million bonds due in 2023 on CreditWatch with positive implications to reflect a 50% chance that, if the transaction is completed as expected, the rating on the bonds will be upgraded to equalize the rating on the new notes.
S&P also said it withdrew the issuer credit rating on the company.
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