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Published on 3/19/2020 in the Prospect News Investment Grade Daily.

S&P puts Ausol on negative watch

S&P said it placed its BBB rating on Autopista del Sol Concesionaria Espanola on CreditWatch with negative implications.

“We understand Ausol has been tax consolidated with its holding companies Infratoll and Meridiam Investments 5 SAS. Therefore, as per Spanish law, Ausol could be deemed jointly and severally liable for any unpaid tax liabilities owed by these companies. We, therefore, consider Ausol exposed to the creditworthiness of these two entities,” said S&P in a press release.

S&P said it aims to resolve the placement within the three to six months, once it has assessed the holding companies’ creditworthiness.


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