Fitch: Aeroportuario de la Ciudad view to negative

Fitch Ratings said it affirmed the BBB+ rating on Mexico City's Airport Trust's (Grupo Aeroportuario de la Ciudad de Mexico, SA de CV) senior secured notes and revised the outlook to negative from stable.

The action affects $2 billion of issued notes out of a program expected to reach up to $6 billion by 2018.

The outlook revision on the company was revised following the recent similar action on the sovereign rating of Mexico, Fitch said.

The negative outlook reflects increased downside risks to the country's growth outlook and the challenges this could pose for stabilization of the public debt burden, the agency said.

Mexico City's airport services one third of Mexico's air-service demand and two thirds of its traffic is domestic, Fitch said.

The agency said it expects traffic growth to be modest in the next four years due to capacity constraints in the existing airport.

Yet, heightened economic uncertainty related to a Trump administration in the United States could have a negative impact on traffic volumes and airport's revenues of an unknown magnitude, Fitch said.

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