Fitch shifts Entrevias view to stable

Fitch Ratings said it changed its outlook for Entrevias Concessionaria de Rodovias SA’s international scale rating to stable from negative. The national scale outlook is unchanged at stable.

The revision reflects the revision of the BB- sovereign rating outlook to stable from negative on July 14, as Entrevias is a toll road and its performance is closely related to the domestic economic environment, Fitch said.

“Moreover, the concessionaire is performing in line with Fitch's expectations and current metrics are commensurate with the assigned ratings as per the applicable criteria,” the agency said in a press release.

Fitch also affirmed the BB-/AA-(bra) ratings on Entrevias’ R$1 billion second debenture issuance due 2030.

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