S&P pulls Ausol from watch

S&P said it removed its ratings for Autopista del Sol Concesionaria Espanola SA (Ausol) from CreditWatch with negative implications, affirmed the BB+ rating on its debt and assigned a negative outlook. S&P downgraded Ausol to BB+ from BBB- on Jan. 20.

The agency said it still sees Ausol’s traffic starting to recover gradually this year but at a slower pace that previously expected.

“The negative outlook reflects that we could lower the rating if lower traffic recovery over the next two years leads to Ausol's coverage ratios being more vulnerable than we currently anticipate,” S&P said in a press release.

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