Fitch views Mexico City trust negatively

Fitch Ratings said it changed the outlook for Mexico City Airport Trust to negative from stable and affirmed its senior secured notes issued in 2016 and 2017 at BBB-.

“The revision of the outlook to negative reflects Fitch's heightened concerns about the project's ability to address its substantial maintenance needs and significant passenger congestion without affecting the airport's finances. While these issues are not new, they have recently aggravated and led to fastened deterioration of the facilities' physical condition to a point at which customers and employees could be injured.

“Also, they have now derived in government measures such as a second flight reduction, which has the potential to decrease revenue generation,” Fitch said in a statement.

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