S&P assigns IIRSA Norte Finance notes BB

Standard & Poor's said it assigned its BB rating to IIRSA Norte Finance Ltd.'s $213 million of 8¾% senior secured notes due 2024.

The agency said that the BB rating is based on the sound legal and financial structure of the transaction, which includes a true sale of the underlying assets, as well as the unconditional and irrevocable payment obligation of the government of Peru under the certificados de reconocimiento de derechos del pago anual por obras.

S&P added that the BB rating also addresses the timely payment of principal and interest when due.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.