S&P affirms 407 International

Standard & Poor's said it affirmed its A and A- ratings on the senior secured debt and BBB rating on the subordinated debt of 407 International Inc.

At the same time, S&P assigned its stable outlook to 407's senior secured and subordinated debt. S&P also will withdraw its A long-term issue credit rating on the company.

"Our decision to withdraw the ICR on the company and assign a stable outlook to its debt is to better align our rating approach for 407 with the general practices we take with project finance entities," said S&P credit analyst Paul Judson in a news release.

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