Fitch upgrades Entrevias national rating

Fitch Ratings said it upgraded the national long-term rating of Entrevias Concessionaria de Rodovias SA to AA+(bra) and revised the outlook to positive from stable. In addition, the agency affirmed Entrevias' R$1 billion second debentures issuance due in 2030 at BB.

“Total traffic surpassed Fitch's base case. Liquidity and credit metrics have improved and increased transactions' cushion to withstand stresses. The positive outlook reflects Fitch's expectation that the positive traffic trend will continue in the following years supporting metrics in line with a higher rating. If the strong traffic performance remains in 2023 and 2024 and investments are performed according to issuer's expectation allowing for additional tariff readjustment, Entrevias' debt rating could be upgraded,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.