Moody’s stabilizes Obrascon view

Moody’s Investors Service said it revised its outlook for Obrascon Huarte Lain SA (OHLA) and its subsidiary, OHL Operaciones SAU to stable from positive and affirmed their ratings, including the B3 rating on OHL’s senior secured notes due 2026.

“The outlook change to stable from positive reflects OHLA's persistently negative free cash flow (FCF) generation and weaker immediately available liquidity amid approaching debt maturities with the 50% of OHL Operaciones SAU's outstanding €412 million backed senior secured notes due in March 2025, followed by the remaining half in March 2026,” Moody’s said in a statement.

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