S&P rates Empark notes BB-

Standard & Poor's said it assigned its BB- preliminary long-term corporate credit rating to Empark Aparcamientos y Servicios, SA. The outlook is stable.

At the same time, S&P assigned BB- preliminary ratings to Empark's proposed €235 million secured fixed-rate notes due 2019 and €150 million secured floating-rate notes due 2019. The recovery rating on both issues is 4.

The rating on Empark reflects S&P's assessment of the company's "strong" business risk profile and "highly leveraged" financial risk profile.

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