Moody's raises Metropistas notes

Moody's Investors Service said it upgraded the rating assigned to Metropistas' $435 million (original issuance amount) of 6¾% amortizing senior secured notes due 2035 to Ba2 from Ba3. The outlook is stable.

The rating upgrade to Ba2 from Ba3 reflects Metropistas' adequate traffic and solid revenue trends the agency expects to continue.

In 2019, Metropistas recorded traffic growth of 0.4% after growing 7% in 2018. The slower growth in 2019 is explained by public protests and the bridge 2088 programmed closure. Nonetheless, in 2019 revenue grew 7% supported by toll increases allowed under the concession.

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