S&P ups Fermaca Enterprises

S&P said it raised its rating on Fermaca Enterprises S de RL de CV’s $550 million senior secured notes to BBB from BBB-.

The outlook is stable.

“Following the entrance of operations of the new interconnection on the Tarahumara Pipeline (TP) with the combined cycle Central Chihuahua II and TG El Encino power plants, and the subsequent increase in tariff of around 10% for this pipeline, we expect Fermaca Enterprises S de RL de CV to post show stronger debt service coverage ratios (DSCRs) with a minimum of 1.28x and an average of 1.36x during the notes' term,” S&P said in a news release.

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