S&P places VNE on watch

S&P said it placed the BBB+ debt rating on Sociedad Concesionaria Vespucio Norte Express SA (VNE) on CreditWatch with negative implications following the Chilean Ministry of Public Works’ decision to eliminate the 3.5% annual adjustment above inflation for the rates of all domestic urban toll roads.

The agency also affirmed its A- debt rating on Sociedad Concesionaria Autopista Central SA and the A debt rating on Sociedad Concesionaria Costanera Norte SA.

The outlook on Autopista Central and Costanera is stable.

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