Fitch pulls ENA Norte, Este from watch

Fitch Ratings said it removed the ratings of ENA Norte and ENA Este Trusts' notes from rating watch negative.

The RWN removal for ENA Norte reflects alleviated concerns about the project's ability to pay debt service on the next coupon payments. Fitch said it no longer expects the project to draw upon the debt service reserve account but assigned a negative outlook.

The negative outlook reflects continued concerns about the possibility of a lengthier recovery to pre-pandemic traffic levels and competition from alternative free routes.

Fitch assigned a stable outlook to ENA Este. The RWN removal and assignment follow the successful closing of ENA Master Trust's notes issuance and the expectation its proceeds will be used to redeem ENA Este's notes on the next coupon payment date scheduled on Dec. 28, or at latest on March 25, the agency said.

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