S&P affirms 407 International

Standard & Poor's said it affirmed the A long-term corporate credit rating on 407 International Inc.

The outlook is stable.

S&P said it believes Highway 407 has a strong demand profile, by virtue of its role as an intra-urban route within the growing and economically diversified greater Toronto area.

The greater Toronto area's sound economic prospects, growing population and demonstrated resiliency to external shocks, together with sustained heavy congestion on Highway 401 and other alternates, contributes to the road's strong demand profile, the agency said.

The stable outlook reflects an expectation that 407's traffic will continue increasing in the medium term, S&P said.

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